Congress is responsible for determining its own compensation, and some decades ago, legislators devised a formula to establish yearly salary raises. Those increases, however, have been put on hold since 2010, following the financial crisis when Congress stopped increases.Â
Members of Congress could get a hefty pay raise, a long-delayed cost-of-living adjustment and a new housing allowance under legislation proposed by Rep. Ed Perlmutter, D-Colo., who is retiring at the end of the current Congress.
