Save Social Security First Act of 1999

Summary

Save Social Security First Act of 1999 - Requires the Secretary of the Treasury, at the end of each fiscal year for which the budget is in surplus, to transfer from the general fund of the Treasury an amount equal to such surplus to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (social security trust funds). Divides such amount between such funds in the same proportion as all other receipts of such funds in that year. Directs the Board of Trustees of such funds to promulgate guidelines to govern the investment of transferred amounts and to submit them to each House of the Congress. Requires such amounts to be invested in the same manner as other moneys in the funds if the Congress disapproves such guidelines by law. Amends the Congressional Budget Act of 1974 to require, if the budget for the current year or the fiscal year preceding such year was not in surplus, a vote of at least two-thirds of the Members voting for passage of any legislation that repeals, increases, or waives any discretionary spending limit set forth in the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) or repeals or waives pay-as-you-go sequestration of such Act. Provides that any transfer of funds required by this Act shall not count as an outlay for purposes of pay-as-you-go requirements and exempts such transfers from sequestration under the Gramm-Rudman-Hollings Act.

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

Timeline

1. 19 January 1999

   Introduced

   Introduced in House

   Source: IntroReferral

2. 19 January 1999

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 January 1999

   Introduced

   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 committee concerned.

   Source: IntroReferral

4. 19 January 1999

   Introduced

   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 committee concerned.

   Source: IntroReferral

5. 29 January 1999

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 January 1999 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 January 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 January 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 January 1999

  Open at official source

Sponsors

• Rep. Andrews, Robert E. [D-NJ-1] · D · Sponsor
• · hswm00 · Standing
• · hsru00 · Standing
• · hsbu00 · Standing

Related records

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