US Congress House Bill 1218 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 24 2017 - 25% progression, died in committee
Action: 2017-02-24 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Social Security and Medicare Lock-Box Act This bill establishes: (1) in the Federal Old-Age and Survivors Insurance Trust Fund, a Social Security Surplus Protection Account; and (2) in the Federal Hospital Insurance Trust Fund, a Medicare Surplus Protection Account. The Managing Trustee of each trust fund (in both cases, the Secretary of the Treasury): (1) must transfer the annual surplus of the trust fund to its respective account; and (2) may not invest the balance in the account until a law takes effect that authorizes, for amounts in the trust fund, an investment vehicle other than U.S. obligations. The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the trust funds, other than investments in the form of U.S. obligations.

Social Security and Medicare Lock-Box Act

Rep. Tim Walberg [R-MI]

Rep. Scott Taylor [R-VA]

Date	Chamber	Action
2017-02-24	House	Referred to the House Committee on Ways and Means.
2017-02-24	House	Introduced in House

HB313 (Related) 2017-01-23 - Referred to the Subcommittee on Social Security.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1218/all-info
Text	https://www.congress.gov/115/bills/hr1218/BILLS-115hr1218ih.pdf