Congressional Fiscal Responsibility Incentive Act of 1997

Congressional Fiscal Responsibility Incentive Act of 1997 - Amends the Legislative Reorganization Act of 1946 to reduce the annual salary of a Member of Congress by ten percent if the total expenditures of the Federal Government exceed its total receipts for a fiscal year.

Requires such reductions in salary to be disregarded the first pay period beginning on or after the date the Congress receives a report indicating that total receipts of the Federal Government are greater than or equal to its total expenditures for a fiscal year. Requires restoration of the Member's salary for such position to the level which would then be in effect without enactment of this Act.

Mandates such pay adjustments before any other adjustment scheduled to take effect on the same day for the same position.

Makes it out of order for the House of Representatives or the Senate to consider any bill or resolution increasing the salary for Members of Congress, with specified exceptions, unless the bill or resolution deals with no subject matter other than a pay increase for members.

Requires a recorded vote by the House or Senate in the passage or adoption of such bill or resolution.

Provides that this Act shall have no force or effect after passage of a constitutional amendment requiring a balanced Federal budget.