To amend chapter 31 of title 31, United States Code, to require the Secretary of the Treasury to reduce the debt held by the public in fiscal year 2000 by up to the amount of surplus in the Social Security trust funds, and for other purposes.

Summary

Amends Federal law to require the Secretary of the Treasury to reduce the face amount of publicly-held obligations issued under public debt provisions and of those whose principal and interest are guaranteed by the U.S. Government (except guaranteed obligations held by the Secretary) by an amount not to exceed the amount of the social security trust funds surplus in the preceding fiscal year. Defines a "publicly-held obligation" as one subject to the public debt limit, except any obligation issued directly to certain Federal trust funds or Government accounts. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm- Rudman-Hollings Act) to require, in any fiscal year when such obligations are reduced by an amount less than the amount of such surplus, the shortfall to be included in the calculation of the sequestration required to offset the deficit increase.

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Timeline

1. 28 October 1999

   Introduced

   Introduced in House

   Source: IntroReferral

2. 28 October 1999

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

   Source: IntroReferral

3. 28 October 1999

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

   Source: IntroReferral

4. 28 October 1999

   Introduced

   Introduced in House

   Source: IntroReferral

5. 2 November 1999

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 October 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 October 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 October 1999

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 28 October 1999

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  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Minge, David [D-MN-2] · D · Sponsor
• Rep. Stenholm, Charles W. [D-TX-17] · D · Sponsor
• Rep. John, Christopher [D-LA-7] · D · Sponsor
• Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5] · D · Sponsor
• Rep. Phelps, David D. [D-IL-19] · D · Sponsor
• · hswm00 · Standing
• · hsbu00 · Standing

Related records

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