Fair Market Standards Act

Fair Market Standards Act - Prohibits a Member or employee of Congress from receiving from any office, officer, employee, or other entity in the Congress or in a U.S. department or agency any service or other benefit, at Government expense, that is not equally available to all other persons, with specified exceptions.

Requires the Sergeant at Arms and Doorkeeper of the Senate and the Sergeant at Arms of the House of Representatives to survey and report to specified congressional committees on all the services and benefits available to Members and employees that are not equally available to all other persons, and the manner in which each service or benefit contributes to the performance of their duties.

Requires each Committee to introduce a resolution that describes: (1) each service and benefit that may properly be made available to Members and employees for specified reasons; (2) each service and benefit that should not properly be made available to them; and (3) each service and benefit that may not properly be made available to them but may be made available in or near the Senate or House buildings, at the expense of Members and employees, and provided by employees of the Government or by private contractors. Directs the appropriate officers of the Senate and House to make arrangements for the necessary services and other benefits at fair market value.

Mandates that all payments received from Members and employees of Congress for unnecessary services and benefits provided by Government employees, all rent, or other payments received from private contractors that provide such services and benefits be deposited into the deficit reduction account of the Treasury.