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Also tagged in: Balanced budgets, Budget deficits, Budget surpluses, Budgets, Congress, Constitution, Constitutional amendments, Debt limit, Federal budget process, Federal budgets, Government trust funds, House rules and procedure, Legislation, Old age, survivors and disability insurance, Record votes, Senate rules and procedure, Social security, Tax rates, Taxation
Latest Action: 01/04/2007 - Sponsor introductory remarks on measure. (CR S186-187) Bill TextA joint resolution proposing an amendment to the Constitution of the United States relative to require a balanced budget and protect Social Security surpluses. 1/4/2007--Introduced. Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts (except those derived from borrowing) for that fiscal year unless the Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts. Bars any surplus of receipts (including interest) over outlays of the Federal Old-Age and Survivors Insurance and the Federal Disability Insurance Trust Funds from being counted for purposes of this article. Requires any deficit of receipts (including interest) relative to outlays of such trust funds to be counted and to be completely offset by a surplus of all other receipts over all other outlays. Requires a three-fifths roll call vote of each House to increase [...] show full description
Also tagged in: Alien labor, Congress, Congress and foreign policy, Congressional investigations, Congressional oversight, Foreign policy, Immigration, International affairs, Labor, Legislative resolutions, Medical care, Medicine, Negotiations, Old age, survivors and disability insurance, President and foreign policy, Presidents, Social security, Social security beneficiaries, Treaties, Vital statistics
Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend title II of the Social Security Act to preserve and protect Social Security benefits of American workers and to help ensure greater congressional oversight of the Social Security system by requiring that both Houses of Congress approve a totalization agreement before the agreement, giving foreign workers Social Security benefits, can go into effect. 1/4/2007--Introduced. Social Security Totalization Agreement Reform Act of 2007 or STAR Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to provide that any agreement to establish a totalization arrangement which is entered into with another country shall enter into force with respect to the United States if (and only if): (1) the President, at least 90 calendar days before the date on which he enters into the agreement, notifies each House of Congress of his intention to enter into it, and promply thereafter publishes notice of such intention in the Federal [...] show full description
Also tagged in: Administrative fees, Administrative procedure, Administrative remedies, Affiliated corporations, Aged, Aliens, Budgets, Business, Cost of living adjustments, Department of the Treasury, Estate tax, Executive departments, Executive reorganization, Exports, Families, Finance, Financial services, Foreign corporations, Gambling, Gift tax, Government information, Government paperwork, Government trust funds, Health policy, Hobbies, Immigration, Income tax, Insurance, Interest, Intergovernmental tax relations, Internal revenue law, Internal Revenue Service (IRS), Interstate compacts, Inventories, Labor, Law, Loan defaults, Medical care, Medicare, Old age, survivors and disability insurance, Payroll deductions, Politics and government, Poverty, Rebates, Sales tax, Small business, Social security, Social security taxes, Sports, State and local government, State politics and government, Tax administration, Tax auditing, Tax courts, Tax credits, Tax liens, Tax penalties, Tax refunds, Tax returns, Tax simplification, Taxation, Taxation of foreign income, Taxpayer compliance, Taxpayers, Telecommunication, Telephone, Trade, Wages, Welfare, Withholding tax
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States. 1/4/2007--Introduced. Fair Tax Act of 2007 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23 percent in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax; and (2) credits and refunds. Allows families a sales tax rebate.Grants states the primary authority for the collection [...] show full description
Also tagged in: Administrative remedies, Aged, Appropriations, Armed forces, Armed forces abroad, Balanced budgets, Biennial budgets, Budget deficits, Budget resolutions, Budgets, Congress, Congressional budget, Congressional committees (Senate), Congressional investigations, Congressional reporting requirements, Counterterrorism, Defense budgets, Defense economics, Defense policy, District of Columbia, Entitlements, Executive departments, Expedited congressional procedure, Federal advisory bodies, Federal budget process, Foreign policy, Government spending reductions, Health care fraud, Health policy, Income tax, International affairs, Labor, Law, Legislation, Medical care, Medicare, Medicine, Military hospitals, Military medicine, Military operations, Performance measurement, Planning-programming-budgeting, Rescission of appropriated funds, Senate Budget, Senate rules and procedure, Social security, Strategic planning, Supplemental security income program, Tax expenditures, Tax rates, Taxation, Terrorism, Unemployment insurance, War casualties, Welfare
Latest Action: 05/22/2007 - Sponsor introductory remarks on measure. (CR S6463-6464) Bill TextA bill to establish a new budget process to create a comprehensive plan to rein in spending, reduce the deficit, and regain control of the Federal budget process. 5/22/2007--Introduced. Stop Over Spending Act of 2007 - Second Look at Wasteful Spending Act of 2007 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to transmit annually to Congress a maximum of four special messages that propose to rescind dollar amounts of discretionary budget authority, items of direct spending, and targeted tax benefits.Requires an analysis by: (1) the Congressional Budget Office (CBO) of an estimated savings in budget authority or outlays resulting from such rescission; and (2) the Joint Committee on Taxation of an estimated savings resulting from repeal of targeted tax benefits.Requires any rescinded budget authority, items of direct spending, or targeted tax benefit to be dedicated only to deficit reduction, and not to be used [...] show full description
Also tagged in: Affordable housing, Afghanistan, Aged, Agricultural subsidies, Agriculture, Alcohol as fuel, Alien labor, Alternative energy sources, Appropriations, Armed forces, Armed forces abroad, Authorization, Border patrols, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses, Budgets, Business, Children, College costs, Congress, Congressional agencies, Congressional Budget Office, Congressional committees (Senate), Congressional conference committees, Congressional voting, Counterterrorism, Criminal justice, Day care, Debt limit, Defense budgets, Defense economics, Defense policy, Department of Health and Human Services, Disability evaluation, Disabled, District of Columbia, Drug utilization, Economic policy, Electric power transmission, Electric vehicles, Electronic data interchange, Emergency management, Employee health benefits, Energy, Energy conservation, Energy crops, Energy efficiency, Energy security, Executive departments, Federal aid to child health services, Federal aid to housing, Federal budget process, Finance, Fire prevention, Food, Food and Drug Administration (FDA), Foreign policy, Forest fires, Government securities, Government spending reductions, Government trust funds, Governmental investigations, Health care fraud, Health information systems, Health insurance, Health policy, Higher education, Housing, Illegal aliens, Immigration, Imports, Income tax, Indian claims, Information technology, International affairs, Iraq, Iraq compilation, Labor, Legislation, Legislative amendments, Legislative resolutions, Liability insurance, Logistics, Long-term care, Medical care, Medical fees, Medical records, Medically uninsured, Medicare, Medicine, Mental health services, Middle East and North Africa, Military and naval supplies, Military hospitals, Military medicine, Military occupation, Military operations, Military training, Minorities, Motor vehicles, National forests, Natural gas, Natural gas vehicles, Natural resources, Nutrition, Oil and gas royalties, Petroleum, Pharmaceutical research, Physicians, Poor children, Power marketing administrations, Prescription pricing, Prospecting, Public lands, Public-private partnerships, Quality of care, Revenue sharing, Right of privacy, Rural affairs, Rural economic development, Science policy, Senate Budget, Senate rules and procedure, Small business, Social security, South Asia, State and local government, Supplemental security income program, Tax administration, Tax refunds, Taxation, Technology, Telecommunication, Terrorism, Tobacco, Tobacco industry, Trade, Transportation, Unemployment insurance, User charges, Veterans, Veterans' benefits, Veterans' medical care, War casualties, War risk insurance, Welfare
Latest Action: 05/17/2007 - Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate. Bill TextAn original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2008 and including the appropriate budgetary levels for fiscal years 2007 and 2009 through 2012. 5/16/2007--Conference report filed in House. (There are 4 other summaries) Sets forth the congressional budget for the federal government for FY2008, including the appropriate budgetary levels for FY2007 and FY2009-FY2012. Title I: Recommended Levels and Amounts - (Sec. 101) Lists recommended budgetary levels and amounts, for FY2007-FY2012, with respect to: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) debt subject to limit; and (6) debt held by the public. (Sec. 102) Lists the appropriate levels of new budget authority, outlays, and administrative expenses for Social Security and specified major functional categories for FY2007-FY2012. Title II: Budget Process [...] show full description
Also tagged in: Annuities, Bonds, Budgets, Children, Civil service retirement, Cost of living adjustments, Families, Finance, Gift tax, Government employees, Government securities, Government trust funds, Grandparents, Individual retirement accounts, Inheritance tax, Investments, Law, Mutual funds, Old age, survivors and disability insurance, Parents, Pensions, Social security, Social security numbers, Stocks, Tax exemption, Tax refunds, Taxation, Trusts and trustees
Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend the Social Security Act to provide each American child with a KidSave Account, and for other purposes. 1/5/2007--Introduced. Social Security KidSave Accounts Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to create a new part B (KidSave Accounts). Directs the Commissioner of Social Security to establish in the name of each individual born on or after January 1, 2008, an individual retirement account in the Thrift Savings Fund known as a KidSave Account. Requires such Account to be treated in the same manner as an account maintained by a federal employee under the Federal Employees Retirement System (FERS) (into which contributions by or on behalf of the individual are deposited into one or more designated investment funds).Requires the Secretary of the Treasury to transfer from the Federal Old-Age and Survivors Insurance Trust Fund to each account holder's KidSave Account: (1) $2,000, on the date such [...] show full description
Also tagged in: Budget resolutions, Budgets, Congress, Congressional budget, Federal budget process, Government trust funds, House rules and procedure, Legislation, Legislative amendments, Old age, survivors and disability insurance, Senate rules and procedure, Social security, Tax rates, Taxation
Latest Action: 01/16/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to establish a procedure to safeguard the Social Security Trust Funds. 1/16/2007--Introduced. Social Security Lock-Box Act of 2007 - Amends the Congressional Budget Act of 1974 to provide a point of order against consideration of any: (1) budget resolution that sets forth totals for any fiscal year with respect to the Social Security Trust Funds that are less than the totals of the Social Security Trust Funds for that fiscal year as calculated in accordance with a current services baseline; or (2) spending or tax legislation that would cause any totals to be less than the Funds totals for the covered fiscal year.Makes the point of order described in (2) above inapplicable to Social Security reform legislation. Requires any federal budget submitted by the President that recommends totals for any fiscal year with respect to the Funds that are less than the totals of the Funds for that fiscal year to include a detailed proposal for Social Security reform [...] show full description
Also tagged in: Aged, Budgets, Congress, Congressional conference committees, Executive departments, Expedited congressional procedure, Federal advisory bodies, Government trust funds, Health policy, House rules and procedure, Legislation, Medical care, Medicare, Old age, survivors and disability insurance, Senate rules and procedure, Social security
Latest Action: 01/22/2007 - Sponsor introductory remarks on measure. (CR S838) Bill TextA bill to establish a National Commission on Entitlement Solvency. 1/22/2007--Introduced. Social Security and Medicare Solvency Commission Act - Establishes the National Commission on Entitlement Solvency to review and report to the President and Congress on the Social Security and Medicare programs with respect to: (1) their current and long-term actuarial financial condition; (2) problems that may threaten their long-term solvency, and potential solutions; and (3) recommendations and proposed legislative language that will ensure their long-term solvency and the provision of appropriate benefits. Provides for expedited congressional consideration of Commission recommendations.
Also tagged in: Albania, Armenia, Azerbaijan, Belarus, Budgets, Business, Cambodia, Caribbean area, Central Asia, China, Congress, Congress and foreign policy, Congressional oversight, Congressional reporting requirements, Cuba, East Asia, Economic policy, Europe, Foreign policy, Free enterprise, Georgia (Republic), Government trust funds, Imports, Kyrgyzstan, Laos, Latin America, Moldova, North Korea, Old age, survivors and disability insurance, President and foreign policy, Presidents, Social security, Taiwan, Tajikistan, Tariff, Trade, Turkmenistan, Ukraine, Uzbekistan, Vietnam
Latest Action: 01/24/2007 - Referred to the Subcommittee on Trade. Bill TextTo require additional tariffs be imposed on products of any nonmarket economy country until the President certifies to the Congress that the country is a market economy country, and to direct the Secretary of the Treasury to deposit the amounts generated from those tariffs into the Social Security trust funds. 1/18/2007--Introduced. Requires additional tariffs to be imposed on products of any nonmarket economy country (Albania, Armenia, Azerbaijan, Belarus, Cambodia, Georgia, Kyrgyzstan, Laos, Moldova, the People's Republic of China, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, Vietnam and, to the extent that any of their products enter U.S. customs territory, Cuba and North Korea), as well as any other country determined to be a nonmarket economy country until the President certifies to Congress that such country is a market economy country (operating on market principles of cost and pricing structures so that sales of merchandise in such country reflect their fair value).[...] show full description
Also tagged in: Budget surpluses, Budgets, Congress, Congressional reporting requirements, Executive departments, Federal advisory bodies, Finance, Government trust funds, Governmental investigations, Investment of public funds, Investments, Legislation, Old age, survivors and disability insurance, Social security
Latest Action: 01/24/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund. 1/19/2007--Introduced. Savings for Seniors Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus.Denies the availability of the balance in the Account for investment by the Managing Trustee.Establishes [...] show full description
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Latest Legislation - View All
Also tagged in: Abortion, Adult education, Afghanistan, Aged, Alaska, Alien labor, Aliens, Appropriations, Birth control, Black colleges, Black lung, Blind, Budgets, Business, California, Centers for Disease Control and Prevention (CDC), Child abuse, Child safety, Child sexual abuse, Children, Citizenship education, Civil rights, Coal, Committee for Purchase from People Who Are Blind or Severely Disabled, Communications, Commuting, Conflict of interests, Corporation for National and Community Service, Criminal justice, Department of Education, Department of Health and Human Services, Department of Labor, Desegregation in education, Disabled, District of Columbia, Drug abuse, Drug abuse treatment, Drug industry, Drug legalization, Drugs, Education, Education of the disadvantaged, Educational research, Elementary and secondary education, Energy, English language, Executive departments, Federal aid to child health services, Federal aid to education, Federal aid to the arts and humanities, Federal employees, Federal Mediation and Conciliation Service, Federal Mine Safety and Health Review Commission, Government corporations, Government employees, Government trust funds, Grants-in-aid, Health counseling, Health information systems, Health insurance, Health policy, Higher education, Human embryology, Humanities, Identification devices, Immigrants, Immigration, Incest, Industrial relations, Informers, Inspectors general, Internet, Job training, Labor, Labor statistics, Libraries, Maryland, Medicaid, Medical care, Medically uninsured, Medicare, Medicare Payment Advisory Commission, Miners, Minorities, Museums, National Council on Disability, National Labor Relations Board, National service, Occupational health and safety, Occupational Safety and Health Review Commission, Old age, survivors and disability insurance, Older workers, Pension Benefit Guaranty Corporation, Pensions, Politics and government, Poor children, Prescription pricing, Public broadcasting, Railroad Retirement Board, Rape, Rebates, Refugees, Religion, Religion in the public schools, Reprogramming of appropriated funds, Salaries, Scholarships, School health programs, Social security, Social Security Administration, Social services, South Asia, Special education, State and local government, State laws, Student aid, Student housing, Student loan funds, Subsidies, Supplemental security income program, Technology, Telecommunication, Trade, Trade adjustment assistance, Transportation, Unemployment insurance, Virginia, Visas, Volunteer workers, Welfare, World health
Latest Action: 07/08/2008 - Committee on Appropriations. Original measure reported to Senate by Senator Harkin. With written report No. 110-410. Bill TextAn original bill making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies for the fiscal year ending September 30, 2009, and for other purposes. 7/8/2008--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2009 - Title I: Department of Labor - Department of Labor Appropriations Act, 2009 - Makes appropriations for FY2009 to the Department of Labor for: (1) the Employment and Training Administration, including training and employment services; (2) community service employment for older Americans; (3) federal unemployment benefits and allowances; (4) state unemployment insurance and employment service operations; (5) advances to [...] show full description
Also tagged in: Budgets, Cabinet officers, Executive departments, Finance, Government securities, Identification devices, Income tax, Old age, survivors and disability insurance, Pensions, Presidents, Railroad retirement plans, Social security, Social security taxes, Tax rates, Taxation, Transportation
Latest Action: 04/10/2008 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to impose a tax on the amount of wages in excess of the contribution and benefit base, and for other purposes. 4/10/2008--Introduced. Social Security Forever Act of 2008 - Amends the Internal Revenue Code to impose on employers, employees, and self-employed individuals an additional employment tax for wages in excess of the social security contribution and benefit base. Requires all Treasury securities to bear a facsimile of the signatures of the President and the Secretary of the Treasury.
Also tagged in: Advice and consent of the Senate, Aged, Annuities, Appropriations, Budgets, Congress, Congressional reporting requirements, Early retirement, Executive departments, Executive reorganization, Finance, Financial statements, Government information, Government paperwork, Government publications, Government publicity, Government trust funds, Governmental investigations, Income tax, Internet, Legislation, Life expectancy, Longevity, Old age, survivors and disability insurance, Pensions, Personal budgets, Presidential appointments, Presidents, Retirement age, Saving and investment, Social security, Social Security Administration, Social security beneficiaries, Survivors' benefits, Tax exemption, Tax-deferred compensation plans, Taxation, Technology, Telecommunication, Telephone
Latest Action: 03/13/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to strengthen and permanently preserve social security. 3/13/2008--Introduced. Saving Social Security Act of 2008 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to add a new part B (Investment-Based Social Security) outlining a new program to allow any individual born on or after January 1, 1963, and meeting certain criteria, to receive Social Security benefits from a portion of their wages or self-employment income that has been contributed to a designated Social Security savings account for employees (SAFE Account) for investment. Guarantees a total monthly benefit to be not less than the monthly benefit promised under the current OASDI program (which is redesignated as part A (Debt-Based Social Security)). Allows certain individuals to elect to waive SAFE account eligibility. Establishes in the Treasury a SAFE Investment Fund which shall be maintained in the same manner as the Thrift Savings Fund (for [...] show full description
Also tagged in: Access to health care, Administrative procedure, Affordable housing, Afghanistan, Aged, Agricultural subsidies, Agriculture, Aid to dependent children, AIDS (Disease), Alternative energy sources, Animals, Appropriations, Armed forces, Armed forces abroad, Armed forces reserves, Auditing, Automobile industry, Balanced budgets, Bonds, Border patrols, Brain, Budget deficits, Budget resolutions, Budget surpluses, Budgets, Business, Cash welfare block grants, Child health, Child support, Children, Climate change, Coastal zone, Communications, Community health services, Congress, Congressional budget, Congressional conference committees, Congressional investigations, Congressional voting, Constitution, Constitutional amendments, Consumers, Criminal aliens, Criminal justice, Customs administration, Debt limit, Defense budgets, Defense contracts, Defense economics, Defense policy, Defense procurement, Dental care, Department of Commerce, Department of Health and Human Services, Deportation, Diabetes, Disability evaluation, Disabled, Disaster insurance, Drug approvals, Drugs, East Asia, Economic growth, Economic policy, Education, Emergency management, Employee health benefits, Energy, Energy efficiency, Energy security, Environmental protection, Executive departments, Families, Federal aid to child health services, Federal aid to education, Federal aid to housing, Federal aid to research, Federal aid to transportation, Federal aid to water resources development, Federal budget process, Finance, Financial statements, Floods, Food and Drug Administration (FDA), Food safety, Foreign policy, Government information, Government publicity, Government trust funds, Greenhouse gases, Head injuries, Health care fraud, Health information systems, Health insurance, Health policy, Higher education, Highway finance, History, Housing, Housing authorities, Housing subsidies, Human immunodeficiency viruses, Identification of criminals, Illegal aliens, Immigration, Import restrictions, Imports, Income tax, Indian claims, Indian medical care, Indian water rights, Infrastructure, Infrastructure (Economics), International affairs, Internet, Iraq, Iraq compilation, Job training, Judges, Judicial compensation, Labor, Law, Legislation, Legislative amendments, Legislative resolutions, Long-term care, Manufacturing industries, Marine resources, Marine resources conservation, Marketing, Mass rapid transit, Medicaid, Medical care, Medical education, Medical fees, Medical research, Medical residents, Medically uninsured, Medicare, Medicine, Mental health services, Middle East and North Africa, Military dependents, Military medicine, Military occupation, Military operations, Military pensions, Minimum tax, Mining royalties, Minorities, National Guard, National parks, Natural resources, Naturalization, New Mexico, Ocean, Old age, survivors and disability insurance, Pediatrics, Pennsylvania, Pensions, Performance measurement, Personnel records, Philippines, Physicians, Poor children, Postal service, Prescription pricing, Public broadcasting, Public debt, Public housing, Public lands, Quality of care, Research and development, Right of privacy, Sanctions (International law), Scholarships, School buildings, Science policy, Senate rules and procedure, September 11, 2001, Small business, Social security, Social security beneficiaries, South Asia, State and local government, Supplemental appropriations, Supplemental security income program, Tax administration, Tax credits, Tax deductions, Tax rates, Tax refunds, Taxation, Teachers, Teaching materials, Technological innovations, Technology, Telecommunication, Trade, Trade adjustment assistance, Trade agreements, Transportation, Trauma care, Unemployment insurance, United States Postal Service, User charges, Veterans, Veterans' benefits, Veterans' disability compensation, Veterans' education, Veterans' medical care, Veterinary medicine, War casualties, Waste in government spending, Water resources, Water supply, Web sites, Welfare, Welfare work participation, World War II
Latest Action: 06/05/2008 - Mr. Spratt brought up conference report H. Rept. 110-659 for consideration under the provisions of H. Res. 1214. Bill TextAn original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2009 and including the appropriate budgetary levels for fiscal years 2008 and 2010 through 2013. 5/20/2008--Conference report filed in House. (There are 4 other summaries) Sets forth the congressional budget for the federal government for FY2009, including the appropriate budgetary levels for FY2008 and FY2010-FY2013. Title I: Recommended Levels and Amounts - (Sec. 101) Lists recommended budgetary levels and amounts, for FY2008-FY2013, with respect to: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits (on-budget); (5) debt subject to limit; and (6) debt held by the public. (Sec. 102) Lists the appropriate levels of new budget authority, outlays, and administrative expenses for Social Security, U.S. Postal Service discretionary administrative expenses, and specified major functional [...] show full description
Latest Action: 12/20/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to provide that a duty of the Board of Trustees of the Social Security Trust funds is to hold them in trust for the beneficiaries and to ensure that the assets of such trust funds are not diverted, and to authorize investment of such trust funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. 12/19/2007--Introduced. Social Security Trust Funds Investment Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds. Specifies that it is a duty to hold the Funds in trust for the beneficiaries and to ensure that the assets of the Funds are not diverted.Authorizes investment of the Funds in securities that are not limited to obligations of the United States or obligations guaranteed [...] show full description
Also tagged in: Accounting, Aged, Budget deficits, Budgets, Finance, Financial statements, Government information, Government publicity, Government spending reductions, Government trust funds, Old age, survivors and disability insurance, Retirement age, Social security
Latest Action: 12/20/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title XI of the Social Security Act to provide that annual Social Security account statements indicate, in estimating the level of projected benefits of eligible individuals, the effect on such benefits levels of benefit reductions which may be necessary, in the absence of future legislative remedies, by reason of anticipated insolvency of the Social Security Trust Funds. 12/17/2007--Introduced. More Transparent and Honest Communications with American Workers Reform Act of 2007 - Amends title XI of the Social Security Act to revise requirements for estimates of potential old-age insurance benefits in Social Security account statements eligible individuals may request. Directs the Commissioner of Social Security, in any case in which the projections of future levels of receipts and disbursements of the Social Security Trust Funds indicate that the balance in the Funds may become insufficient to pay benefits in full when due, to indicate in benefits estimates [...] show full description
Also tagged in: Auditing, Budget deficits, Budget resolutions, Budget surpluses, Budgets, Congress, Congressional reporting requirements, Congressional voting, Executive departments, Executive reorganization, Federal budgets, Federal officials, Government employees, Government trust funds, House rules and procedure, Investment of public funds, Legislation, Legislative amendments, Legislative resolutions, Old age, survivors and disability insurance, Senate rules and procedure, Social security, Taxation
Latest Action: 12/13/2007 - Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the co Bill TextTo provide for investment and protection of the Social Security surplus. 12/13/2007--Introduced. Social Security Surplus Protection Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct the Managing Trustee to ensure that amounts in either the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund (Social Security Trust Funds) equivalent to the annual surplus for such Fund for any calendar year are made available to the Social Security Surplus Investment Board (SSSIB) on a timely basis for purposes of investment. Requires the Managing Trustee also to ensure that Trust Fund assets are available for payment of benefits. Establishes the SSSIB in the executive branch to provide for the investment of such amounts. Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any concurrent resolution [...] show full description
Also tagged in: Aged, Budget resolutions, Budget surpluses, Budgets, Congress, Government trust funds, Health policy, House rules and procedure, Income tax, Legislation, Medical care, Medicare, Old age, survivors and disability insurance, Senate rules and procedure, Social security, Tax expenditures, Taxation
Latest Action: 12/06/2007 - Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Bill TextTo establish a procedure to safeguard the surpluses of the social security and medicare hospital insurance trust funds. 12/6/2007--Introduced. Social Security and Medicare Lock-Box Act - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any concurrent resolution on the budget (or related measure) that would set forth a surplus for any fiscal year less than the surplus of the Federal Hospital Insurance Trust Fund for that fiscal year. Creates an exception to such point of order if a violation of it would result from an assumption in the measure of an increase in outlays or a decrease in revenue relative to the baseline underlying the measure for Social Security or Medicare reform legislation for any such year. Makes it out of order in the House of Representatives or the Senate to consider any (spending or tax) measure if its enactment would cause the surplus for any fiscal year covered [...] show full description
Also tagged in: Aged, Budgets, Congress, Congressional conference committees, Executive departments, Expedited congressional procedure, Federal advisory bodies, Government trust funds, Health policy, House rules and procedure, Legislation, Medical care, Medicare, Old age, survivors and disability insurance, Senate rules and procedure, Social security
Latest Action: 10/02/2007 - Referred to the Subcommittee on Health. Bill TextTo establish a National Commission on Entitlement Solvency. 10/2/2007--Introduced. Social Security and Medicare Solvency Commission Act - Establishes the National Commission on Entitlement Solvency to review and report to the President and Congress on the Social Security and Medicare programs with respect to: (1) their current and long-term actuarial financial condition; (2) problems that may threaten their long-term solvency, and potential solutions; and (3) recommendations and proposed legislative language that will ensure their long-term solvency and the provision of appropriate benefits. Provides for expedited congressional consideration of Commission recommendations.
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