A bill to provide that the receipts and disbursements of the social security trust funds shall not be included in the budget of the United States Government, and to permit borrowing between such trust funds under specified conditions when necessary to assist in financing the benefit programs involved.

Summary

Prohibits the inclusion of the receipts and disbursements of the social security trust funds (the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund) in the totals of the Federal budget, and exempts them from any general statutory limitation on Federal budget outlays. Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to permit the Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund to make loans to the other Funds, prior to fiscal year 1991, whenever one of the Funds falls below 20 percent of its disbursements for the 12 months preceding the borrowing. Provides for the repayment of such loans.

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1 official file

• Introduced in House

  summary · EN · 15 July 1981

  Open at official source

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