H.R. 37 (106th): Social Security Trust Funds Protection Act

106th Congress, 1999–2000. Text as of Jan 06, 1999 (Introduced).

Status & Summary | PDF | Source: GPO

HR 37 IH

106th CONGRESS

1st Session

H. R. 37

To amend the Congressional Budget and Impoundment Control Act of 1974 to protect the Social Security trust funds.

IN THE HOUSE OF REPRESENTATIVES

January 6, 1999

Mr. LIVINGSTON introduced the following bill; which was referred to the Committee on the Budget


A BILL

To amend the Congressional Budget and Impoundment Control Act of 1974 to protect the Social Security trust funds.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION. 1. SHORT TITLE.

    This Act may be cited as the ‘Social Security Trust Funds Protection Act’.

SEC. 2. REMOVING SOCIAL SECURITY FROM BUDGET SURPLUS/DEFICIT PRONOUNCEMENTS.

    (a) PROTECTION OF SOCIAL SECURITY TRUST FUNDS- Title III of the Congressional Budget Act of 1974 is amended by adding at the end the following new section:

‘REMOVING SOCIAL SECURITY FROM BUDGET SURPLUS/DEFICIT PRONOUNCEMENTS

    ‘SEC. 316. (a) SURPLUS OR DEFICIT TOTALS- Any official statement issued by the Office of Management and Budget or by the Congressional Budget Office of surplus or deficit totals of the budget of the United States Government as submitted by the President or of the surplus or deficit totals of the congressional budget, and any description of, or reference to, such totals in any official publication or material issued by either of such Offices, shall exclude the receipts and disbursements totals of the old-age, survivors, and disability insurance program under title II of the Social Security Act (including the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund) and the related provisions of the Internal Revenue Code of 1986.

    ‘(b) PRESENTATION OF BUDGETARY AGGREGATES- For purposes of chapter 11 of title 31, United States Code, or the Congressional Budget Act of 1974, tables and other displays of budgetary aggregates for the United States Government of the Director of the Office of Management and Budget or the Director of the Congressional Budget Office shall not include receipts or disbursements referred to in subsection (a).’.

    (b) CONFORMING AMENDMENT- The table of contents set forth in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended by adding after the item relating to section 315 the following new item:

      ‘Sec. 316. Removing Social Security from budget surplus/deficit pronouncements.’.