An act to amend the Congressional Budget Act of 1974 to protect Social Security surpluses through strengthened budgetary enforcement mechanisms

8 Pages·1999·0.3 MB·English

by  United States. Congress. Senate

CC725M-0S00/!-S.ieb-c'!-c-;v:f^p/ityD!vd. I n
3:iltimore, Marytend 21244
Calendar No. 152
106thcongress H.R. 1259
1stSession
IN THE SENATE OP THE UNITED STATES
June8(legislativeday,JuxE7),1999
Received
June10,1999
Readtwiceandorderedplacedonthecalendar
AN ACT
To amend the Congressional BudgetAct of 1974 to protect
Social Security surpluses through strengthened budg-
etaryenforcementmechanisms.
1 BeitenactedbytheSenIateandHemeofRepresenta-
2 tivesofth£UnitedStatesofAmericainCongressassembled,
2
1 SECTION1.SHORTTITLE.
2 This Act may be cited as the "Social Securitr^^ and
3 MedicareSafeDepositBoxActof1999".
4 SEC.2.FINDINGSANDPURPOSE.
5 (a)Findings.—TheConfessfindsthat—
6 (1) the Congress and the Presidentjoined to-
7 gethertoenacttheBalancedBudgetActof1997 to
8 enddecadesofdeficitspending;
9 (2) strongeconomicgrowthandfiscaldiscipline
10 have resulted in strong revenue growth into the
11 Treasury;
12 (3) the combinationofthesefactorsisexpected
13 toenabletheGovernmenttobalanceitsbudgetwith-
14 outtheSocialSecuritysurpluses;
15 (4) the Congress has chosen to allocate in this
16 Act all Social Security surpluses toward saving So-
17 cialSecurityandMedicare;
18 (5) amounts so allocated are even greaterthan
19 those reserved for Social Security and Medicare in
20 the President's budget, will not require an increase
21 inthestatutorydebtlimit, andwillreducedebtheld
22 bythe public until Social SecurityandMedicare re-
23 formisenacted;and
24 (6) this strict enforcement is needed to lock
25 away the amounts necessary for legislation to save
26 SocialSecurityandMedicare.
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1 (b) Purpose.—It is thepurpose ofthisActtopro-
2 hibittheuseofSocial Securitysurplusesforaii}^purpose
3 otherthanreformingSocialSecurityandMedicare.
4 SEC.3.PROTECTIONOFSOCIALSECURITYSURPLUSES.
5 (a) Points of Order To Protect Social Secu-
6 RiTY Surpluses.—Section 312 of the Congressional
7 BudgetActof1974isamendedbyaddingattheendthe
8 followingnewsubsection:
9 "(g) PointsofOrder ToProtect Soclu.Secu-
—
10 RITYSurpluses.
11 "(1) Concurrent resolutions on the
—
12 BUDGET. ^It shall not be in order in the House of
13 Representatives or the Senate to consider any con-
14 current resolution on the budget, or conference re-
15 port thereon or amendment thereto, that would set
16 forthanon-budgetdeficitforanyfiscalyear.
—
17 "(2) Subsequent Legislation. It shall not
18 be in order in the House ofRepresentatives or the
19 Senate to consideranybill,joint resolution, amend-
20 ment,motion,orconferencereportif
21 "(A) the enactment ofthat bill or resolu-
22 tionasreported;
23 "(B) the adoption and enactment ofthat
24 amendment;or
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1 "(C) the enactment ofthat bill or resolu-
2 tion in the form recommended in that con-
3 ferencereport,
4 wouldcauseorincreaseanon-budgetdeficitforany
5 fiscalyear.
6 "(3) Exception.—Thepointofordersetforth
7 in para^aph (2) shall not apply to Social Security
8 reform le^slation or Medicare reform leg^islation as
9 defined by section 5(c) of the Social Security and
10 MedicareSafeDepositBoxActof1999.
11 "(4) Definition.—For purposes of this sec-
12 tion, theterm 'on-budget deficit', when appliedto a
13 fiscal year, means the deficit in the budget as set
14 forthinthemostrecentlyagreedtoconcurrentreso-
15 lution on the budget pursuant to section 301(a)(3)
16 forthatfiscalyear.".
17 (b)ContentofConcurrentResolutiononthe
18 Budget.—Section 301(a) of the Congressional Budget
19 Actof1974is amendedbyredesignatingparagraphs (6)
20 and (7) as paragraphs (7) and (8), respectively, and by
21 insertingafterparagraph(5)thefollo\vingnewparagraph:
22 "(6)thereceipts, outlays, andsurplusordeficit
23 in the Federal Old-Age and Survivors Insurance
24 Trust Fund and the Federal Disability Insurance
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1 TrustFund, combined, established bytitle II ofthe
2 SocialSecurityAct;".
—
3 (c) Super Majority Requirement. (1) Section
4 904(c)(1) of the Congressional Budget Act of 1974 is
5 amendedbyinserting"312(g),"after"310(d)(2),".
6 (2) Section 904(d)(2) of the Congressional Budget
7 Act of 1974 is amended by inserting "312(g)," after
8 "310(d)(2),".
I
9 SEC.4.REMOVINGSOCIALSECURITYFROMBUDGETPRO-
10 NOUNCEMENTS.
—
11 (a) In GExNERAL. ^Any official statement issued by
12 theOfficeofManagementandBudget, theCongressional
13 Budget Office, oranyotheragencyorinstrumentalityof
14 theFederalGovernmentofsurplusordeficittotalsofthe
15 budgetoftheUnitedStatesGovernmentas submittedby
16 thePresidentorofthesurplusordeficittotalsofthecon-
17 gressionalbudget, andanydescriptionof,orreferenceto,
18 such totals in any official publication or material issued
19 byeitherofsuch Officesoranyothersuch agencyorin-
20 strumentality,shallexcludetheoutlaysandreceiptsofthe
21 old-age,survivors,anddisabilityinsuranceprogramunder
22 title II ofthe Social SecurityAct (includingthe Federal
23 Old-Age and Survivors Insurance Trust Fhind and the
24 FederalDisabiUtyInsuranceTrustFund) andtherelated
25 provisionsoftheInternalRevenueCodeof1986.
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1 (b) Separate Social Security Budget Docu-
—
2 MEXTS. Theexcludedoutlaysandreceiptsoftheold-age,
3 sundvors, anddisabilityinsuranceprogramundertitleII
4 ofthe Social SecurityAct shall be submitted in separate
5 SocialSecuritybudgetdocuments.
6 SEC.5.EFFECTIVEDATE.
—
7 (a) Ix Gexeral. This Act shall take effect upon
8 the date ofits enactment and the amendments made by
9 this Act shall apply onlyto fiscal year 2000 and subse-
10 quentfiscalyears.
11 (b) Expiratiox.—Sections 301(a)(6) and 312(g)
12 shallexpireupontheenactmentofSocialSecurityreform
13 legislationandMedicarereformlegislation.
—
14 (c)Defixitioxs.
—
15 (1) Social security reform legislatiox.
16 Theterm "Social Securityreformlegislation" means
17 a bill or ajoint resolution that is enacted into law
18 and includes a provision statingthe following: "For
19 purposes of the Social Security and Medicare Safe
20 DepositBoxActof1999,thisActconstitutes Social
21 Securitj'^reformlegislation.".
22 (2) The term "Medicare reform legislation"
23 meansabillorajointresolutionthatisenactedinto
24 law and includes a provision stating the following:
25 "For purposes ofthe Social Security and Medicare
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1 Safe Deposit BoxAct of 1999, this Act constitutes
2 Medicarereformlegislation.".
PassedtheHouseofRepresentativesMay26, 1999.
Attest: JEFFTRANDAHL,
Ckrk.
CMSLibrary
C2-07-13
7500SecurityBlvd.
Baltimore. Maryland 21244
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