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HR 3008 105th Congress House Social Welfare Budget deficits Deficit reduction Economics and Public Finance Federal budgets Government spending reductions Old age, survivors and disability insurance Social security beneficiaries Social security eligibility

Notch Fairness Act of 1997

Introduced: November 9, 1997 See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 1, 1997
Referred to the Subcommittee on Social Security.
Nov 9, 1997
Referred to House Ways and Means
Nov 9, 1997
Introduced in House
Nov 9, 1997
Referred to House Budget
Nov 9, 1997
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.
 Plain-English summary Congressional Research Service

Notch Fairness Act of 1997 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the formula for the computation of minimum old age insurance benefits for individuals who reached age 65 in or after 1979 and to whom applies the 15-year transition period for the changes in benefit computation rules enacted in the Social Security Amendments of 1977.

Sets forth a schedule of additional benefit increases for such beneficiaries (and related beneficiaries), with percentages declining from 55 percent to five percent and keyed to the year an individual became eligible for such benefits between 1979 and 1988.

Allows such beneficiaries, in the alternative, to receive lump sum payments over four years totaling $5,000.

Specifies offsetting nondefense and discretionary spending reductions the Director of the Office of Management and Budget shall make over a four-year period for the increase in direct spending estimated to result from enactment of this Act.

What's happening now December 1, 1997

Referred to the Subcommittee on Social Security.

 Committees of jurisdiction 3
 Cosponsors 5
All 5 Democratic 3 Republican 2