B.1. Personal Bank Accounts

Members may maintain personal bank accounts under their direct control with a combined balance not exceeding their Member’s annual Congressional salary. If funds are transferred to a spouse, partner, or child living either in their official or primary residence, the spouse’s or child’s accounts are considered under the Member’s control for this subclause.

This clause establishes a generous amount of liquid financial resources that members of Congress can keep under their direct control. They can retain full control of up to their annual salary – far more than what ordinary Americans have at their daily disposal. The cap is high so that no credible argument can be raised claiming the member can’t meet the expenses of daily life. If this amount of checking and savings isn’t enough to meet their everyday expenses, they need to rein in their lavish lifestyle. It really is that simple. Remember, they earn a salary equal to the 90^th percentile of individual income according to the most recent decennial census.[1]

The clause also includes a loophole closure. Transferring money to your spouse or a child living with you doesn’t protect it from scrutiny.

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[1] See Article II, Section 1.G.