To provide that cost-of-living adjustments in rates of pay for Members of Congress be made contingent on there not being a deficit in the budget of the United States Government.

Amends the Legislative Reorganization Act of 1946 to prohibit a cost-of-living adjustment from being implemented for Members of Congress in a calendar year if there was a Federal budget deficit for the last fiscal year ending before the first day of such calendar year.

Requires the Director of the Office of Management and Budget to determine and submit a written report to the Congress on whether there was a Federal budget deficit for such fiscal year and, if so, the amount of such deficit.