US HB219 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Republican 12-0)
Status: Introduced on January 7 2011 - 25% progression, died in committee
Action: 2011-01-14 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 7 2011 - 25% progression, died in committee
Action: 2011-01-14 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Social Security Preservation Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security Trust Funds) to ensure that the annual surplus of the Social Security Trust Funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates of deposit in insured depository institutions. Outlines requirements for determining the annual surplus of the Trust Funds. Prohibits disinvestment of Social Security Trust Fund amounts from public debt obligations, any refraining from making such investments, or any delay in making normal deposits in such Trust Funds for public debt limit-related purposes. Authorizes, with certain conditions, the sale of Social Security Trust Fund public debt obligations for the payment of cash benefits and administrative expenses.
Title
Social Security Preservation Act of 2011
Sponsors
Rep. Ron Paul [R-TX] | Rep. Steve Austria [R-OH] | Rep. Dan Benishek [R-MI] | Rep. Steve Chabot [R-OH] |
Rep. John Duncan [R-TN] | Rep. Randy Forbes [R-VA] | Rep. Bill Johnson [R-OH] | Rep. Timothy Johnson [R-IL] |
Rep. Steven LaTourette [R-OH] | Rep. Bill Posey [R-FL] | Rep. Dennis Ross [R-FL] | Rep. Steve Scalise [R-LA] |
History
Date | Chamber | Action |
---|---|---|
2011-01-14 | House | Referred to the Subcommittee on Social Security. |
2011-01-07 | House | Referred to the House Committee on Ways and Means. |
Subjects
Bank accounts, deposits, capital
Budget deficits and national debt
Financial services and investments
Government trust funds
Securities
Social security and elderly assistance
Social welfare
Budget deficits and national debt
Financial services and investments
Government trust funds
Securities
Social security and elderly assistance
Social welfare
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/219/all-info |
Text | https://www.congress.gov/112/bills/hr219/BILLS-112hr219ih.pdf |