HR 3207
105th Congress
House
Social Welfare
Balanced budgets
Budget surpluses
Economics and Public Finance
Federal budgets
Government securities
Government trust funds
Investment of public funds
Old age, survivors and disability insurance
Social security finance
To amend the Social Security Act to establish the Save Social Security First Reserve Fund into which the Secretary of the Treasury shall deposit budget surpluses pending Social Security reform.
Introduced: February 12, 1998
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 19, 1998
Referred to the Subcommittee on Social Security.
Feb 12, 1998
Referred to the House Committee on Ways and Means.
Feb 12, 1998
Sponsor introductory remarks on measure. (CR E176)
Feb 12, 1998
Introduced in House
Plain-English summary
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Treasury the Save Social Security First Reserve Fund to save any surpluses in the Federal budget pending social security reform. Requires the Secretary of the Treasury to: (1) pay into the Fund at the end of each fiscal year an amount equal to any such surplus; and (2) invest all such amounts in public debt securities with suitable maturities and bearing interest at rates determined by the Secretary.
What's happening now
Referred to the Subcommittee on Social Security.
Committees of jurisdiction
2