HR 853
107th Congress
House
Social Welfare
Budget surpluses
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 2001
Introduced: March 1, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 8, 2001
Referred to the Subcommittee on Social Security.
Mar 1, 2001
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.
Mar 1, 2001
Introduced in House
Plain-English summary
Notch Fairness Act of 2001 - 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.
Provides that any additional spending resulting from this Act shall not be counted as direct spending for purposes of budgetary limits in the Congressional Budget Act of 1974 and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
What's happening now
Referred to the Subcommittee on Social Security.
Committees of jurisdiction
3