Save Social Security First Act of 2001

Summary

Save Social Security First Act of 2001 - 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 and Disability Insurance Trust Funds. Divides such amount between such funds in the same proportion as all other receipts of such funds in that year. 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 provisions. 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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 March 2001

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• Introduced in House (PDF)

  Introduced in House · EN · 1 March 2001

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• Introduced in House

  summary · EN · 1 March 2001

  Open at official source

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