Accomplish this over the next 8 years (two  steps/two elections) and of course this would require some  redistricting.

Some Yearly Monetary Gains Include:

$44,108,400 for elimination of  base pay for congress. (267 members X $165,200 pay/member/  yr.)

$437,100,000 for elimination of their staff.  (Estimate $1.3 Million in staff per each member of the House, and $3 Million in staff per each member of the Senate every  year)

$108,350,000 for the reduction in remaining staff  by 25%.

$7,500,000,000reduction in pork barrel earmarks each  year. (Those members whose jobs are gone. Current estimates for total government pork earmarks are at$15  Billion/yr).

The remaining representatives would need to work smarter and  improve efficiencies.. It might even be in their best interests to  work together for the good of our country!

We may also expect that smaller committees might lead to a more efficient resolution of issues as well. It might even be easier to keep track of what your representative is doing.

Congress has more tools available to do their jobs than it had back in 1911 when the current number of representatives was established. (Telephone, computers, cell phones to name a few)

Note:
Congress does not  hesitate to head home for extended weekends, holidays and  recesses, when what the nation needs is a real fix for  economic problems. Also, we had 3 senators who were not doing their jobs for the 18+ months (on the campaign trail) and still they all accepted full pay. Minnesota survived very well with only one senator for the first half of a year. These facts alone support a reduction in senators and congress.

Summary:

$44,108,400  reduction of congress members.

$282,100,000 elimination of the reduced house member staff.

$150,000,000 elimination of reduced senate member staff.

$70,850,000  for 25% reduction of staff for remaining house  members.

$37,500,000  for 25% reduction of staff for remaining senate  members.

$7,500,000,000  reduction in pork added to bills by the reduction of congress  members.

$8,084,558,400  per year, estimated total savings. (That’s 8-BILLION just to start!)

Corporate   America does these types of cuts all the time.There’s even  a name for it — “Downsizing.”
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Also, if Congresspersons were required to serve 20, 25 or 30 years (like everyone else) in order to collect retirement benefits, taxpayers could save a bundle.

Now they get full retirement after serving only ONE term.