The story
After William B. Saxbe (1916–2010), who was confirmed as Attorney General in 1973 after Congress reduced the office's salary to the level it had been before Saxbe's term commenced.
Etymology from Wiktionary, CC BY-SA 4.0.
Saxbe fix
Today it means: A solution to violations of a clause in the United States Constitution that prevents sitting members of Congress being appointed to jobs created for them or for which the salary was increased while they were in office. Full definition →