Congressional Salary and Tax Act of 1988

Congressional Salary and Tax Act of 1988 - Title I: Congressional Pay, Honoraria, and Related Matters - Amends the Legislative Reorganization Act of 1946 to revise the pay system for Members of Congress. Allows Members to elect their rate of pay to be: (1) the rate payable on the date of enactment of this Act; (2) the rate recommended by the Commission on Executive, Legislative, and Judicial Salaries; or (3) a rate higher than the rate payable on the date of enactment of this Act, but lower than that recommended by the Commission. Amends the Federal Salary Act of 1967 to provide that the recommendations of the President with respect to Member salaries shall be of an advisory nature only.

Amends the Federal Election Campaign Act of 1971 to prohibit a Member of Congress from accepting any honorarium for any appearance, speech, or article, excluding certain travel and subsistence expenses and agents' fees or commissions.

Amends the Pay Comparability Act of 1970 and the Legislative Branch Appropriations Act, 1988 to provide for adjusting the pay of congressional personnel in accordance with the base rates payable to Members.

Directs the Commission on Executive, Legislative, and Judicial Salaries appointed for FY 1989 to study and report to the Congress on the need for establishing a Senior Congressional Service, similar to the Senior Executive Service in the Executive branch.

Title II: Tax Treatment of Member Expenses - Amends the Internal Revenue Code to repeal the current $3,000 limit on the deductibility of the living expenses incurred by Members while living away from their State or congressional district.