HR 219
107th Congress
House
Social Welfare
Budget surpluses
Certificates of deposit
Congress
Congressional investigations
Congressional reporting requirements
Debt limit
Economics and Public Finance
Finance and Financial Sector
Government securities
Government trust funds
Investment of public funds
Old age, survivors and disability insurance
Social security finance
Social Security Preservation Act of 2001
Introduced: January 3, 2001
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 23, 2002
Sponsor introductory remarks on measure. (CR E887)
Feb 7, 2001
Referred to the Subcommittee on Social Security.
Jan 3, 2001
Referred to the House Committee on Ways and Means.
Jan 3, 2001
Sponsor introductory remarks on measure. (CR E8-9)
Jan 3, 2001
Introduced in House
Plain-English summary
Social Security Preservation Act of 2001 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (social security trust funds) to ensure that the annual surplus of the Social Security Trust Funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates of deposit in insured depository institutions. Outlines provisions for determining the annual surplus of the Trust Funds.
Prohibits disinvestment of Social Security Trust Fund amounts from public debt obligations, any refraining from making such investments, or any delay in making normal deposits in such Trust Funds for public debt limit-related purposes. Authorizes, with certain conditions, the sale of Social Security Trust Fund public debt obligations for the payment of cash benefits and administrative expenses.
What's happening now
Sponsor introductory remarks on measure. (CR E887)
Committees of jurisdiction
2