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United States · Bill · HR

H.R. 5252 (107th)

Social Security Preservation Act of 2002

referredUnited States· United States Congress· EN

Introduced

26 July 2002

Last action

26 July 2002 · Introduced

Status

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.

Sponsors

Rep. Waxman, Henry A. [D-CA-33], Rep. Matsui, Robert T. [D-CA-5], Rep. Rangel, Charles B. [D-NY-15], Rep. Gephardt, Richard A. [D-MO-3], Rep. Pelosi, Nancy [D-CA-11], Rep. Frost, Martin [D-TX-24], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Spratt, John M., Jr. [D-SC-5], Rep. LaFalce, John J. [D-NY-29], Rep. Lantos, Tom [D-CA-12], Rep. Miller, George [D-CA-11], Rep. Evans, Lane [D-IL-17], Rep. Doggett, Lloyd [D-TX-37], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Becerra, Xavier [D-CA-34], Rep. Stark, Fortney Pete [D-CA-13], Rep. McDermott, Jim [D-WA-7], Rep. McNulty, Michael R. [D-NY-23], Rep. Thurman, Karen L. [D-FL-5], Rep. Davis, Jim [D-FL-11], Sen. Baldwin, Tammy [D-WI], Rep. McCarthy, Carolyn [D-NY-4], Rep. Pallone, Frank [D-NJ-6], Rep. Phelps, David D. [D-IL-19], Rep. Allen, Thomas H. [D-ME-1], Rep. Shows, Ronnie [D-MS-4], Rep. Holden, Tim [D-PA-17], Rep. Capps, Lois [D-CA-24], Rep. Hinojosa, Ruben [D-TX-15], Rep. Crowley, Joseph [D-NY-14], Rep. Slaughter, Louise McIntosh [D-NY-25], Rep. Ackerman, Gary L. [D-NY-5], Sen. Brown, Sherrod [D-OH], Rep. Rodriguez, Ciro D. [D-TX-28], Rep. Woolsey, Lynn C. [D-CA-6], Rep. Gutierrez, Luis V. [D-IL-4], Rep. Berkley, Shelley [D-NV-1], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Andrews, Robert E. [D-NJ-1], Rep. Wynn, Albert Russell [D-MD-4], Rep. Filner, Bob [D-CA-51], Sen. Markey, Edward J. [D-MA], Rep. Payne, Donald M. [D-NJ-10], Rep. Visclosky, Peter J. [D-IN-1], Rep. Rush, Bobby L. [D-IL-1], Rep. Brown, Corrine [D-FL-5], Rep. Larson, John B. [D-CT-1], Rep. Hastings, Alcee L. [D-FL-20]

Subjects

Taxation, Budget

Source updated

19 August 2025

Taxation · Budget

Official sourceDownload fileView documentsShare

Summary

Social Security Preservation Act of 2002 - Repudiates the statements of: (1) the Secretary of the Treasury, Paul O'Neill, that the social security program (title II (Old Age, Survivors and Disability Insurance) of the Social Security Act) is a "pyramid game" and that the social security trust funds (Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund) have "no assets;" and (2) the statements of congressional leaders that the social security trust funds are "empty," a "total fraud," "a mere accounting device", and consist of "worthless IOUs." Prohibits the use by the Treasury of amounts borrowed from the social security trust funds to pay for other Government expenditures in a fiscal year, unless, during the nine month period immediately preceding the year, the Congress has enacted legislation explicitly affirming that the Treasury will repay these funds. Amends Federal law to require the President to include in each budget: (1) the total amount the Treasury has borrowed from the social security trust funds; and (2) explanations of repayment plans and the impact any legislation enacted in the preceding year will have on them. Requires the Secretary to affirm annually that the Treasury will honor the securities in such trust funds. Allows any individual credited with wages or self-employment income under Medicare to bring an action in an appropriate Federal district court to enjoin any act or practice: (1) by which the Secretary contests an obligation issued for purchase by either social security trust fund; or (2) which constitutes a failure to provide for redemption of the obligation in accordance with its terms or to otherwise honor the full faith and credit of the United States supporting such obligation.

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

Timeline

  1. 26 July 2002

    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

  2. 26 July 2002

    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. 26 July 2002

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 26 July 2002

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 26 July 2002

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  • Introduced in House (PDF)

    Introduced in House · EN · 26 July 2002

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  • Introduced in House

    summary · EN · 26 July 2002

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Sponsors

Showing 48 of 78 sponsors and actors.

Related records

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Sources

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