September 18, 2013

WASHINGTON, D.C. – Congresswoman Jackie Speier (D-San Francisco/San Mateo) has joined Rep. Jim Cooper (TN-05) as a co-sponsor of the Stop Pay for Members Act (H.R. 1884), a bill that would prevent Members of Congress from earning paychecks if the U.S. enters credit default.

“If the U.S. reaches default, Congress has failed as an institution,” says Speier. “Why should lawmakers who make no laws, who fail to address the economic concerns of millions, and who continuously obstruct laws on the books be paid one red cent? This is the least productive Congress in modern history. We’ve already had our credit rating downgraded for the first time in our nation’s history. But, some still haven’t learned their lesson. Maybe hitting them in their wallets will finally deliver the message: quit playing politics with our economy, our health care, and our citizens’ ability to make ends meet.”

According to the Bipartisan Policy Center, a U.S. credit default means the Treasury Department must choose which of the roughly 100 million monthly payments need to be made, from the limited revenue available. The Stop Pay for Members Act would place Members of the House and Senate very last on the list, ensuring Members would not get paid after a national default.