US HB539 | 2011-2012 | 112th Congress

Status

Spectrum: Partisan Bill (Democrat 45-0)
Status: Introduced on February 8 2011 - 25% progression, died in committee
Action: 2011-03-15 - Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
Pending: House Subcommittee on Disability Assistance and Memorial Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Preserving Our Promise to Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPIEC) that indicates changes over time in consumption expenditures typical for individuals in the United States 62 years of age or older. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to tie the CPIEC to computation of cost-of-lving increases in OASDI benefits. Directs the Secretary of the Treasury to disburse a cash payment of $250 (adjusted for inflation) for each non-COLA year to certain recipients of OASDI benefits, railroad retirement benefits, veterans disability compensation or pension benefits, or Supplemental Security Income (SSI) benefits under SSA title XVI. Amends the Internal Revenue Code to prescribe special rules for the determination of wages and self-employment income above the contribution and benefit base after 2011. Amends SSA title II to include surplus average indexed monthly earnings (AIME) in the determination of primary OASDI amounts. Develops points of order in the House of Representatives and the Senate with respect to consideration of any legislation whose effect would be a program: (1) reducing OASDI benefits in connection with contributions to individual beneficiary accounts in the private sector; or (2) providing for investment of amounts in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund in any investment vehicle other than interest-bearing U.S. obligations or U.S.-guaranteed obligations.

Tracking Information

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Title

Preserving Our Promise to Seniors Act

Sponsors


History

DateChamberAction
2011-03-15HouseReferred to the Subcommittee on Disability Assistance and Memorial Affairs.
2011-02-14HouseReferred to the Subcommittee on Social Security.
2011-02-09HouseReferred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2011-02-08HouseReferred to House Veterans' Affairs
2011-02-08HouseReferred to House Transportation and Infrastructure
2011-02-08HouseReferred to House Rules
2011-02-08HouseReferred to House Education and the Workforce
2011-02-08HouseReferred to House Ways and Means
2011-02-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Same As/Similar To

HB456 (Related) 2011-02-04 - Referred to the Subcommittee on Social Security.
SB1876 (Related) 2011-11-16 - Read twice and referred to the Committee on Finance.
HB3758 (Related) 2012-01-03 - Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
SB3651 (Related) 2012-12-04 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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