Skip to main content
HR 1269 117th Congress House Health Advisory bodies Executive agency funding and structure Financial services and investments Government studies and investigations Government trust funds Medicare Social security and elderly assistance

Social Security and Medicare Lock-Box Act

Introduced: February 23, 2021 Introduced by: Walberg, Tim Republican · Michigan See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 23, 2021
Referred to the House Committee on Ways and Means.
Feb 23, 2021
Referred to the Subcommittee on Health.
Feb 23, 2021
Referred to the Subcommittee on Social Security.
Feb 23, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Social Security and Medicare Lock-Box Act

This bill establishes (1) in the Federal Old-Age and Survivors Insurance Trust Fund, a Social Security Surplus Protection Account; and (2) in the Federal Hospital Insurance Trust Fund, a Medicare Surplus Protection Account.

The Managing Trustee of each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of the trust fund to its respective account; and (2) may not invest the balance in the account until a law takes effect that authorizes, for amounts in the trust fund, an investment vehicle other than U.S. obligations.

The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the trust funds, other than investments in the form of U.S. obligations.

What's happening now February 23, 2021

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 3