Incentivize Savings Act
Sponsored By: Representative McCormick
In Committee
Summary
Redirects leftover federal agency appropriations to public-debt payments and small retention bonuses. This bill would require agencies to divide unspent, time-limited funds so most are used to pay principal and interest on the public debt while a small share can be used quickly for retention bonuses, and it would cap next-year budget requests to the prior year's request adjusted for inflation.
Show full summary
- Federal agencies: Unspent funds for a definite period would be split 49% kept available for one more fiscal year, 49% used to pay principal and interest on the public debt, and 2% used within 30 days for retention bonuses.
- Federal employees: Retention bonuses funded from the 2% pot may not exceed 10% of an employee's basic pay, and any remaining money after bonuses must go to public-debt payments.
- Budget rules and scope: If these rules apply, an agency's next budget submission to OMB and the President cannot exceed the prior year's request adjusted by the percentage change in the Consumer Price Index. The rule covers executive-branch agencies, including the United States Postal Service and the Postal Regulatory Commission, and excludes the American National Red Cross.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Split agencies' unspent funds for debt
If enacted, this bill would require that when a Federal agency fails to spend money made available for a fixed period, the unspent total would be split. Forty-nine percent would remain available for one more fiscal year. Forty-nine percent would be used to pay principal and interest on the public debt. Two percent would have to be used within 30 days after the availability period ends for retention bonuses under 5 U.S.C. § 5754. Each retention bonus paid from that two percent could not exceed 10 percent of the employee's basic pay. Any bonus money left after paying bonuses would also go to pay principal and interest on the public debt. If these rules apply, the agency's budget submission to OMB and the President's budget request for the next fiscal year could not exceed the agency's prior fiscal year budget request adjusted by the percentage change in the Consumer Price Index (all items—United States city average). The bill would cover Executive branch agencies, the United States Postal Service, and the Postal Regulatory Commission, but it would exclude the American National Red Cross.
Sponsors & CoSponsors
Sponsor
McCormick
GA • R
Cosponsors
Brecheen
OK • R
Sponsored 9/17/2025
Edwards
NC • R
Sponsored 9/17/2025
Baird
IN • R
Sponsored 9/17/2025
Cline
VA • R
Sponsored 9/17/2025
Stutzman
IN • R
Sponsored 9/18/2025
Burlison
MO • R
Sponsored 9/30/2025
Fallon
TX • R
Sponsored 9/30/2025
Van Duyne
TX • R
Sponsored 9/30/2025
Jackson (TX)
TX • R
Sponsored 9/30/2025
Self
TX • R
Sponsored 9/30/2025
Webster (FL)
FL • R
Sponsored 9/30/2025
Grothman
WI • R
Sponsored 10/17/2025
Harrigan
NC • R
Sponsored 10/17/2025
Cloud
TX • R
Sponsored 10/21/2025
Shreve
IN • R
Sponsored 10/21/2025
Higgins (LA)
LA • R
Sponsored 10/24/2025
Bergman
MI • R
Sponsored 11/4/2025
Biggs (SC)
SC • R
Sponsored 11/10/2025
Donalds
FL • R
Sponsored 11/19/2025
Miller-Meeks
IA • R
Sponsored 11/19/2025
Salazar
FL • R
Sponsored 11/19/2025
Fedorchak
ND • R
Sponsored 11/19/2025
Harshbarger
TN • R
Sponsored 12/16/2025
Perry
PA • R
Sponsored 12/16/2025
Palmer
AL • R
Sponsored 12/17/2025
Sessions
TX • R
Sponsored 12/17/2025
Hamadeh (AZ)
AZ • R
Sponsored 12/17/2025
Johnson (SD)
SD • R
Sponsored 12/17/2025
Smith (NE)
NE • R
Sponsored 12/17/2025
Gooden
TX • R
Sponsored 12/17/2025
Hudson
NC • R
Sponsored 12/17/2025
McGuire
VA • R
Sponsored 12/17/2025
Fine
FL • R
Sponsored 12/18/2025
Lee (FL)
FL • R
Sponsored 1/7/2026
Smith (WA)
WA • D
Sponsored 1/8/2026
Barr
KY • R
Sponsored 1/8/2026
Subramanyam
VA • D
Sponsored 1/8/2026
Burchett
TN • R
Sponsored 1/8/2026
Pfluger
TX • R
Sponsored 1/9/2026
Gosar
AZ • R
Sponsored 1/9/2026
Turner (OH)
OH • R
Sponsored 1/9/2026
Owens
UT • R
Sponsored 1/12/2026
Carter (GA)
GA • R
Sponsored 1/12/2026
Gill (TX)
TX • R
Sponsored 1/12/2026
Moore (UT)
UT • R
Sponsored 1/12/2026
Crane
AZ • R
Sponsored 1/13/2026
Mills
FL • R
Sponsored 1/13/2026
Davis (NC)
NC • D
Sponsored 1/13/2026
Lawler
NY • R
Sponsored 1/13/2026
Moskowitz
FL • D
Sponsored 1/13/2026
Boebert
CO • R
Sponsored 1/13/2026
Houchin
IN • R
Sponsored 1/13/2026
Fong
CA • R
Sponsored 1/13/2026
Gimenez
FL • R
Sponsored 1/13/2026
DesJarlais
TN • R
Sponsored 1/14/2026
Langworthy
NY • R
Sponsored 1/14/2026
Collins
GA • R
Sponsored 1/14/2026
Jack
GA • R
Sponsored 1/20/2026
Luna
FL • R
Sponsored 1/20/2026
Timmons
SC • R
Sponsored 1/20/2026
Mace
SC • R
Sponsored 1/20/2026
Miller (OH)
OH • R
Sponsored 1/20/2026
Loudermilk
GA • R
Sponsored 1/21/2026
Foxx
NC • R
Sponsored 1/22/2026
Smucker
PA • R
Sponsored 2/2/2026
Van Epps
TN • R
Sponsored 2/2/2026
Fleischmann
TN • R
Sponsored 2/9/2026
Begich
AK • R
Sponsored 2/11/2026
Evans (CO)
CO • R
Sponsored 3/3/2026
Roll Call Votes
No roll call votes available for this bill.
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