A bill to reduce the salaries of the President, Senators, and Members of the House of Representatives.

Reduces the annual rate of compensation for the President, Senators, Members of the House of Representatives, including the Resident Commissioner from Puerto Rico and the Delegate from the District of Columbia, and all other Federal Government employees in the executive and legislative branches with salaries of $40,000 or more, by 10 percent effective January 1, 1975.