A bill to amend the Social Security Act to provide for trust fund borrowing from general revenues when necessary to maintain an adequate level of reserves in the trust funds.

openUnited States· United States Congress· EN

Introduced

31 July 1981

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Summary

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 borrow money from the general fund in the U.S. Treasury in any month in which one of the funds fall below 14 percent of the amount of its disbursements for the 12 months preceding the borrowing. Provides for the repayment of such loans.

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Documents

1 official file

Introduced in Senate
summary · EN · 31 July 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/1559
Open data entity: https://api.congress.gov/v3/bill/97/s/1559