Social Security and Medicare Lock-Box Act

Summary

Social Security and Medicare Lock-Box Act This bill establishes (1) in the Federal Old-Age and Survivors Insurance Trust Fund, a Social Security Surplus Protection Account; and (2) in the Federal Hospital Insurance Trust Fund, a Medicare Surplus Protection Account. The Managing Trustee of each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of the trust fund to its respective account; and (2) may not invest the balance in the account until a law takes effect that authorizes, for amounts in the trust fund, an investment vehicle other than U.S. obligations. The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the trust funds, other than investments in the form of U.S. obligations.

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Timeline

1. 23 February 2021

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 23 February 2021

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

3. 23 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 23 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 February 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 February 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 February 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 23 February 2021

  Open at official source

Sponsors

• Rep. Walberg, Tim [R-MI-5] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Social Security and Medicare Lock-Box Act