GovTrack’s Bill Summary
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H.R. 1031: Social Security Protection and Truth in Budgeting Act of 2013
- Introduced:
- Mar 07, 2013 (113th Congress, 2013–2015)
- Sponsor:
- Rep. Peter DeFazio [D-OR4]
- Status:
- Referred to Committee
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
- Full Title
To amend title II of the Social Security Act to ensure that the receipts and disbursements of the Social Security trust funds are not included in a unified Federal budget and to provide that Social Security contributions are used to protect Social Security solvency by mandating that Trust Fund monies cannot be diverted to create private accounts.
- Summary
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No summaries available.
- Text
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Last updated Mar 07, 2013.
3 pages
- Primary Source
-
View on THOMAS (The Library of Congress)
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- Citation
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Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
3/7/2013--Introduced.
Social Security Protection and Truth in Budgeting Act of 2013 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security trust funds) from being included in the federal budget baseline for any fiscal year and from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of offsetting any tax decrease or spending increase.
Excludes Social Security trust fund receipts and disbursements totals from official Office of Management and Budget (OMB) and Congressional Budget Office (CBO) budget pronouncements.
Makes proceeds to the Social Security trust funds from Social Security taxes available solely for OASDI purposes.
Prohibits their availability for the establishment or funding of private accounts.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
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The bill contains the following citations to other parts of U.S. law:
United States Code
The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)
- Title 42: THE PUBLIC HEALTH AND WELFARE
- Chapter 7: SOCIAL SECURITY
- Subchapter II: FEDERAL OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE BENEFITS
- Section 401: Trust Funds