H.R. 5987 (97th): Social Security Trust Funds Improvement Act of 1982

Introduced:
Mar 30, 1982 (97th Congress, 1981–1982)
Sponsor:
Rep. Robert Shamansky [D-OH12]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on March 30, 1982, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 30, 1982
Cosponsors
9 cosponsors (8D, 1R) (show)
Committees

House Energy and Commerce

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Social Security Act to provide for increased earnings of interest by the social security trust funds, and for other purposes.

Summary

No summaries available.

Text

Text not yet available.

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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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.

3/30/1982--Introduced.
Social Security Trust Funds Improvement Act of 1982 - Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to repeal the provisions dealing with investments of funds contained in the following Trust Funds: (1) Federal Old-Age and Survivors Insurance Trust Fund; (2) Federal Disability Insurance Trust Fund; (3) Federal Hospital Insurance Trust Fund; and (4) Federal Supplementary Medical Insurance Trust Fund. Establishes a social security savings account in the general fund of the Treasury for each of the Trust Funds. Requires that there remain on deposit in each of the savings accounts that portion of the related Trust Fund as is not required to meet current withdrawals from the Trust Fund. Sets forth the interest rate for amounts deposited in the savings accounts Amends the Second Liberty Bond Act to include the amounts on deposit in the social security savings accounts within the limitation on obligations issued under that Act. Sets forth the effective date and transitional provisions.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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