How much money do US senators make? Hint: their salaries haven't changed for 15 years.

America's lawmakers have come a long way since they earned $6 a day in 1789, but their six-figure annual salaries have remained frozen in time since 2009.

The current annual salary for a U.S. senator — as well as members of the U.S. House of Representatives — is $174,000. The salary paid by the government, set in 2009, reflects an increase of $4,700 from 2008, but has not been increased since.

Nonetheless, the income is still more than double the median household income, which currently stands at $82,207, according to MotioResearch.

For comparison, majority and minority leaders in both chambers receive $193,400. The Speaker of the House receives $223,500 per year.

Unlike individuals in other professions, Congress essentially has direct control over the salaries of its members, in the sense that any increase or decrease in member compensation must be “determined by law”, according to Article I, Section 6 of the United States Constitution. Checks and balances in the legislative process surrounding compensation, however, prevent members from granting themselves million-dollar salary increases each year.

“A change in salary must be done through a bill or a joint resolution, both presented to the president for signature. Thus, the president could veto a bill changing the salaries of deputies if he deems it inappropriate “, explains a 2019 report from the Congressional Institute.

That said, perhaps the most powerful protection against inflated salaries in Congress lies at the ballot box and in voters' general skepticism of Senate salary increases.

“Congressmen know that voters are skeptical of congressional pay raises, which is why they hate voting for them,” according to the Congressional Institute.

Do senators receive a cost of living adjustment?

Despite public scrutiny, Congressman has managed to remain among the highest-paid professions.

After public outrage quashed a brash attempt by Congress to raise member salaries by 51 percent in early 1989, a more modest 10 percent increase was passed through the Labor Reform Act. Ethics Act of 1989, signed into law by President George Bush on November 30, 1989.

Described at the time by CQ Almanac as “the most radical rewrite of the congressional code of conduct in 12 years,” the legislation allowed salaries of members of Congress to reach $125,000 in 1991, an increase of nearly 40% compared to the salary of $89,500 which had been set. in 1987.

The ethics reform also established an automatic annual cost-of-living adjustment (COLA) for members of Congress, based on the previous year's cost of employment index, an increase they have declined since 2009 – probably to avoid a negative reaction from voters.

If Congress had agreed to each of these raises over the years, their annual salary would have reached $208,000 in 2023, as CBS News previously reported. Meanwhile, a Congressional Research Service report estimates that senators actually earn 29 percent less than in 2009 due to inflation.

How rich is the typical senator?

But pay increases can take less obvious forms, like subsidies. As the New York Times reported last January, a provision passed by Congress in late 2022 allowed lawmakers to claim reimbursement for gas, food and lodging while on official business in Washington – l The equivalent of a tax-free salary increase of $34,000, according to the New York Times. Times.

Most senators built their fortunes before becoming members of Congress, according to Investopedia. A 2019 financial disclosure showed that half of members of Congress were millionaires, according to Open Secrets. Senators are required by the Ethics in Government Act of 1978 to disclose their financial assets each year.

Among the richest senators, according to Quiver Quantitative: Senator Rick Scott, Republican of Florida, whose net worth is estimated at $548 million; Senator Mark Warner, Democrat of Virginia ($246 million); and Utah Republican Mitt Romney ($235 million).

More from Anne-Marie Lee

Anne Marie D. Lee is a staff writer for CBS MoneyWatch. She writes on topics including personal finance, workplace, travel, and social media.

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