Reduction— If, by the end of the first day of a Congress, the House of Representatives has not elected a Speaker, the annual rate of pay applicable under section 601(a) of the Legislative Reorganization Act of 1946 (2 U.S.C. 4501) with respect to each Member of the House of Representatives for the year shall be reduced by an amount equal to the product of—
Holding salaries in escrow— If, by the end of the first day of the One Hundred Eighteenth Congress, the House of Representatives has not elected a Speaker, the Chief Administrative Officer of the House of Representatives, or an employee of the Office of the Chief Administrative Officer who is designated by the Chief Administrative Officer to carry out this Act, shall—
deposit in an escrow account and exclude from the payments otherwise required to be made for the compensation of each Member of the House of Representatives with respect to a pay period during which the House has not elected a Speaker an amount equal to the product of—
release amounts deposited in an escrow account under subparagraph (A) to such Member of the House of Representatives only upon the expiration of the period described in paragraph (2).
Withholding and remittance of amounts from payments held in escrow— The Chief Administrative Officer of the House of Representatives, or an employee of the Office of the Chief Administrative Officer who is designated by the Chief Administrative Officer to carry out this Act, shall provide for the same withholding and remittance with respect to a payment deposited in an escrow account under paragraph (1) that would apply to the payment if the payment were not subject to paragraph (1).
Release of amounts at end of the congress— In order to ensure that this subsection is carried out in a manner that shall not vary the compensation of Representatives in violation of the twenty-seventh amendment to the Constitution of the United States, the Chief Administrative Officer of the House of Representatives, or an employee of the Office of the Chief Administrative Officer who is designated by the Chief Administrative Officer to carry out this Act, shall release for payment to Members of the House of Representatives any amounts remaining in any escrow account under this section on the last day of the One Hundred Eighteenth Congress.
Member defined— In this section, the term Member of the House of Representatives means an individual serving in a position in the House of Representatives which is covered under subparagraph (A), (B), or (C) of section 601(a)(1) of the Legislative Reorganization Act of 1946 (2 U.S.C. 4501(1)).