US Congress House Bill 1520 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 19 2015 - 25% progression, died in committee
Action: 2015-04-01 - Referred to the Subcommittee on Health.
Pending: House Subcommittee on Health Committee
Text: Latest bill text (Introduced) [PDF]

Social Security and Medicare Lock-Box Act Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus for the fiscal year of the sum of Social Security taxes collected, as well as the aggregate increase in certain tax liabilities, over the sum of benefits paid. Establishes in the Federal Hospital Insurance Trust Fund a Medicare Surplus Protection Account to hold amounts equivalent to the Medicare part A surplus for the fiscal year of the sum of hospital insurance taxes collected over the sum of Medicare part A benefits paid. Denies the availability of the balance in either Account for investment by the Managing Trustee. Establishes in the executive branch a Social Security and Medicare Part A Investment Commission to study the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Hospital Insurance Trust Fund (other than investment in the form of U.S. obligations).

Social Security and Medicare Lock-Box Act

Rep. Tim Walberg [R-MI]

Date	Chamber	Action
2015-04-01	House	Referred to the Subcommittee on Health.
2015-03-19	House	Referred to the House Committee on Ways and Means.
2015-03-19	House	Introduced in House

HB603 (Related) 2015-02-12 - Referred to the Subcommittee on Social Security.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1520/all-info
Text	https://www.congress.gov/114/bills/hr1520/BILLS-114hr1520ih.pdf