A bill to restore to the social security trust funds and other Federal retirement funds current and future losses in connection with efforts to meet the public debt limit.

Summary

Requires the Secretary of the Treasury to: (1) pay to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, the Federal Supplementary Medical Insurance Trust Fund, the Railroad Retirement Account, the Civil Service Retirement and Disability Fund, and the Department of Defense Military Retirement Fund the net amount of interest which would have accrued to each such fund but for any noninvestment, redemption, or disinvestment of such fund to meet the public debt limit between September 1, 1985, and the effective date of an extension of such limit; and (2) issue to each fund obligations identical with public debt obligations redeemed during such period to meet the public debt limit.

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Documents

1 official file

• Introduced in House

  summary · EN · 6 November 1985

  Open at official source

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