A bill to provide that recommendations transmitted to the Congress under the Federal Salary Act of 1967 shall take effect only upon approval by the Congress, to eliminate automatic cost-of-living adjustments of certain legislative, executive, and judicial salaries.

Amends the Federal Salary Act of 1967 to keep from becoming effective any salary adjustment recommended by the President under such Act unless specifically approved by both Houses of Congress within 30 days after such adjustment is submitted to Congress.

Amends the Legislative Reorganization Act of 1946 to repeal automatic cost-of-living adjustments for Members of Congress. Abolishes such adjustments for (1) certain executive and judicial employees and officials, (2) President, and (3) referees in bankruptcy.