A bill to provide that increases in rates of pay for Members of Congress, and other financial benefits specifically applicable to Members of Congress, may take effect only if approved by the Congress and deferred until the beginning of the following Congress.

Stipulates that any increase in the rate of pay for Members of Congress, and the adoption of a increase in any other financial benefit specifically applicable to such individuals shall not take effect unless established by statute or approved by resolution.

Prohibits any such increase or benefit from taking effect before the beginning of the following Congress.