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Concurrent resolution on the budget

An agreement between the House and Senate that sets overall spending limits and revenue targets for the federal government in the upcoming fiscal year. It's a blueprint, not a law, and doesn't require the President's signature.

Escrow account

A temporary account where money is held by a neutral third party until specific conditions are met, after which it is released to the intended recipient.

Fiscal year

The 12-month period that a government or company uses for accounting and budget purposes. For the U.S. federal government, it runs from October 1 to September 30.

Payroll administrator

The official responsible for managing the paychecks and compensation for members of either the House of Representatives or the Senate.

Member of Congress

As defined in this bill, it includes Representatives and Senators, as well as Delegates and the Resident Commissioner from U.S. territories.

27th Article of Amendment (to the U.S. Constitution)

A part of the U.S. Constitution that states that any law changing the salary of members of Congress cannot take effect until after the next election for the House of Representatives.