To amend the Social Security Act to establish the Protect Social Security Account into which the Secretary of the Treasury shall deposit budget surpluses until a reform measure is enacted to ensure the long-term solvency of the OASDI trust funds.

Summary

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Treasury the Protect Social Security Account to save budget surpluses until a reform measure is enacted to ensure the long-term solvency of the Old Age, Survivors and Disability Insurance Trust Fund. Requires the Secretary of the Treasury to: (1) pay into the Account at the end of each fiscal year an amount equal to any such surplus; and (2) invest all such amounts in public debt obligations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 March 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 March 1998

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 5 March 1998

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.