Balanced Budget Bonus Act of 1989

Balanced Budget Bonus Act of 1989 - Amends the Federal Salary Act of 1967 to rename the Commission on Executive, Legislative, and Judicial Salaries the Commission on Executive and Judicial Salaries. Removes the authority of the Commission to review the pay rates of Members of Congress.

Amends the Legislative Reorganization Act of 1946 to repeal the authority for an automatic congressional pay adjustment when a pay adjustment is made in the General Schedule.

Declares the rate of pay for Members of Congress to be the rate of pay in effect for such office on February 7, 1989.

Requires a majority vote of both Houses of Congress before any increase in congressional pay rates becomes effective.

Requires the Director of the Office of Management and Budget annually to report to the Congress on whether or not there is a Federal budget surplus. Establishes a formula for granting each Member of Congress a pay bonus based on a budget surplus.