US Congress House Bill 313 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on January 5 2017 - 25% progression, died in committee
Action: 2017-01-23 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Savings for Seniors Act of 2017 This bill 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. The Managing Trustee of the Social Security trust funds (the Secretary of the Treasury) must: (1) transfer annual Social Security surpluses to the account; and (2) may not invest the balance in the account until a law takes effect after FY2017 that authorizes, for amounts in the trust fund, an investment vehicle other than U.S. obligations resulting in the transfer of trust fund assets to the general fund of the Treasury. The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund other than investments in the form of U.S. obligations.

Savings for Seniors Act of 2017

Sen. Marsha Blackburn [R-TN]

Rep. Jeb Hensarling [R-TX]

Rep. Jenniffer Gonzalez-Colon [R-PR]

Date	Chamber	Action
2017-01-23	House	Referred to the Subcommittee on Social Security.
2017-01-05	House	Referred to the House Committee on Ways and Means.
2017-01-05	House	Introduced in House

HB1218 (Related) 2017-02-24 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/313/all-info
Text	https://www.congress.gov/115/bills/hr313/BILLS-115hr313ih.pdf