I get the idea behind it, but this very much would backfire in that only the rich could become representation. Remember they made it a rule that they aren't allowed to sleep in their office while in D.C., and 60k not only won't afford a place in D.C, it most definitely won't allow for someone to have a home near their constituents AND D.C.
So we would end up with just having first or second sons of oligarchs, 1 trained to run the companies, the other trained to represent their families best interests.