A bill to assure the financial viability of the Social Security system.

Summary

States that the purposes of this Act are to reconfirm and implement the policy of the Federal Government to use all practicable means to maintain the financial viability of the social security system as well as the appropriate relation of retired persons purchasing power to that of active workers. Provides for a gradual increase in the percentage of tax imposed on employers and employees for old-age, survivors, and disability insurance under title II of the Social Security Act. Excludes from coverage under the old-age, survivors, and disability insurance program the distributive share of any item of income or loss of a limited partner. Eliminates the special dependency requirements for husbands' and widowers' benefits under such program. Extends coverage to qualified divorced husbands and former husbands for husbands' and widowers' benefits. Extends benefits for widowed fathers with minor children who are full-time students. Authorizes appropriations to the Federal Old-Age and Survivors Insurance Trust Fund and to the Federal Disability Insurance Trust Fund for fiscal year 1976 and succeeding fiscal years of such sums as the Secretary of Health, Education, and Welfare deems necessary on account of monthly payments of child's insurance benefits which would not have been made but for this Act. Directs the Secretary of Labor to prepare, as part of the Consumer Price Index, a consumer price index for the aged designed to reflect the relevant price information for individuals who are 65 years of age or older.

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

Timeline

1. 5 November 1975

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 5 November 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 5 November 1975

  Open at official source

Sponsors

• Sen. Brock, Bill [R-TN] · R · Sponsor
• · ssfi00 · Standing

Related records

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