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.

Prohibits any increase in the rate of pay or any other financial benefit of Members of Congress or officers of the Congress from taking effect unless such increase is approved by each House of Congress by resolution and adopted by recorded vote, and does not take effect before the first day of the following Congress.