HR 5028
106th Congress
House
Social Welfare
Accounting
Budget deficits
Economics and Public Finance
Finance and Financial Sector
Financial statements
Government Operations and Politics
Government paperwork
Government publicity
Government trust funds
Old age, survivors and disability insurance
Social security beneficiaries
Social security finance
Social security taxes
Tax rates
Taxation
Straight Talk on Social Security Act
Introduced: July 27, 2000
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2000
Referred to the House Committee on Ways and Means.
Jul 27, 2000
Introduced in House
Plain-English summary
Straight Talk on Social Security Act - Amends the Social Security Act to require social security account statements to contain: (1) a comparison of the annual social security tax inflows to the amount paid in benefits annually and a statement of whether the ratio will result in a cash flow deficit and what year such deficit will commence as well as the first year in which funds in the Federal Old-Age and Survivors and Disability Insurance Trust Funds will cease to be sufficient to cover the deficit and the percentage of benefits due at that time that could be paid from annual tax inflows; and (2) an explanation of the average rate of return that a taxpayer can expect to receive on old-age insurance benefits as compared to the total amount of social security taxes a taxpayer expects to pay.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1