Rep. Nancy Mace Introduces the Presidential Budget Accountability Act to Bolster Fiscal Accountability

FOR IMMEDIATE RELEASE

WASHINGTON, D.C. — Congresswoman Nancy Mace introduced the “Presidential Budget Accountability Act,” which seeks to hold the President accountable for timely submission of the annual budget to Congress.

Under this proposed legislation, if the President fails to submit the annual budget to Congress before the first Monday in February of any year, the payment of salaries to the President and members of the cabinet will be prohibited. The bill aims to ensure that the administration adheres to the statutory requirement of submitting the budget, fostering fiscal responsibility and accountability. This comes at a time when President Joe Biden missed the budget deadline for the fourth time in a row and has still not released his budget requests.

"The President's actions are effectively holding the financial future of our Nation hostage. We cannot afford to condone such irresponsible pandering. The gravity of the situation cannot be overstated. Congress should not have to beg the President to fulfill his duty, particularly given the unprecedented urgency of our Nation's fiscal crisis. The impact of missed deadlines is felt far and wide, and it's crucial that we pass this bill and address this issue with the seriousness it deserves."

Key Provisions of the Presidential Budget Accountability Act:

1. Prohibition on Pay for President and Senior Executive Branch Officials: If the President does not submit the budget for any fiscal year by the first Monday in February, as required by law, neither the President nor any senior official, including members of the President's cabinet, may receive any pay during the specified period.

2. Escrow for Presidential Pay: To prevent variation in the President's compensation, an escrow account will be established to withhold payments during the period in which the budget submission is overdue. These withheld payments will be released to the President upon the expiration of the specified period.

3. Application: The Act applies to the President's annual budget submissions for fiscal year 2025 and each fiscal year thereafter.

For more information, please contact Gabrielle.lipsky@mail.house.gov

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