H.R. 5305: Congressional Money Returned to America Act

This bill, known as the Congressional Money Returned to America Act, proposes a change in the way unspent funds from the Members’ Representational Allowance are handled. The Members’ Representational Allowance is a budget allocated to each member of the U.S. House of Representatives to fund their official duties, including office expenses and staff salaries.

Key Provisions

• Deposit of Unspent Funds: At the end of each fiscal year, any remaining amounts from the Members’ Representational Allowance must be deposited into the U.S. Treasury. This money will be specifically used for one of two purposes:
  • If there is a federal budget deficit, the funds will go towards deficit reduction.
  • If there is no deficit, the funds will be used to reduce the federal debt, as determined appropriate by the Secretary of the Treasury.
• Regulatory Authority: The Committee on House Administration will have the authority to create regulations to implement this act.
• Effective Date: The provisions of this bill would take effect starting with the fiscal year 2026 and in all subsequent fiscal years.

This legislation aims to promote fiscal responsibility by ensuring that unused portions of congressional budgets contribute to reducing the federal budget deficit or debt, rather than remaining unutilized.

Relevant Companies

None found.