US HB1215 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 13 2019 - 25% progression, died in committee
Action: 2019-02-13 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

Social Security and Medicare Lock-Box Act

Sponsors


History

DateChamberAction
2019-02-13HouseReferred to the Subcommittee on Social Security.
2019-02-13HouseReferred to the House Committee on Ways and Means.
2019-02-13HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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