HR 373 IH

To amend the concurrent resolution on the budget for fiscal year 2001 to protect social security surpluses.

January 31, 2001

Mr. ROGERS of Michigan (for himself, Mr. GRUCCI, Mr. SIMMONS, Mr. FLAKE, Mr. TIBERI, Mr. CRENSHAW, Mr. REHBERG, Mr. BROWN of South Carolina, and Mr. AKIN) introduced the following bill; which was referred to the Committee on Rules, 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

To amend the concurrent resolution on the budget for fiscal year 2001 to protect social security surpluses.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Social Security Lock-box Act of 2001'.

SEC. 2. PROTECTION OF SOCIAL SECURITY SURPLUSES.

Section 201 of the concurrent resolution on the budget for fiscal year 2001 (H. Con. Res. 290, 106th Congress) is amended as follows:

(1) By striking subsection (c) and inserting the following new subsection:

`(c) LOCK-BOX FOR SOCIAL SECURITY SURPLUSES-

`(1) CONCURRENT RESOLUTIONS ON THE BUDGET- It shall not be in order in the House of Representatives or the Senate to consider any concurrent resolution on the budget, an amendment thereto, or conference report thereon, that would set forth a surplus for any fiscal year that is less than the surplus of the Federal Old-Age and Survivors Insurance Trust Fund for that fiscal year.

`(2) SPENDING AND TAX LEGISLATION- It shall not be in order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, motion, or conference report if--

`(A)(i) in the House, the enactment of that bill or resolution as reported; or

`(ii) in the Senate, the enactment of that bill or resolution;

`(B) the adoption and enactment of that amendment; or

`(C) the enactment of that bill or resolution in the form recommended in that conference report,

would cause the surplus for any fiscal year covered by the most recently agreed to concurrent resolution on the budget to be less than the surplus of the Federal Old-Age and Survivors Insurance Trust Fund for that fiscal year.'.

(2) By redesignating subsections (e) and (f) as subsections (g) and (h), respectively, and inserting after subsection (d) the following new subsections:

`(e) ENFORCEMENT-

`(1) BUDGETARY LEVELS WITH RESPECT TO CONCURRENT RESOLUTIONS ON THE BUDGET- For purposes of enforcing any point of order under subsection (c)(1), the surplus for any fiscal year shall be--

`(A) the levels set forth in the later of the concurrent resolution on the budget, as reported, or in the conference report on the concurrent resolution on the budget; and

`(B) adjusted to the maximum extent allowable under all procedures that allow budgetary aggregates to be adjusted for legislation that would cause a decrease in the surplus for any fiscal year covered by the concurrent resolution on the budget (other than procedures described in paragraph (2)(A)(ii)).

`(2) CURRENT LEVELS WITH RESPECT TO SPENDING AND TAX LEGISLATION- For purposes of enforcing any point of order under subsection (c)(2), the current levels of the surplus for any fiscal year shall be--

`(A) calculated using the following assumptions--

`(i) direct spending and revenue levels at the baseline levels underlying the most recently agreed to concurrent resolution on the budget; and

`(ii) for the budget year, discretionary spending levels at current law levels and, for outyears, discretionary spending levels at the baseline levels underlying the most recently agreed to concurrent resolution on the budget; and

`(B) adjusted for changes in the surplus levels set forth in the most recently agreed to concurrent resolution on the budget pursuant to procedures in such resolution that authorize adjustments in budgetary aggregates for updated economic and technical assumptions in the mid-session report of the Director of the Congressional Budget Office.

`(C) Such revisions shall be included in the first current level report on the congressional budget submitted for publication in the Congressional Record after the release of such mid-session report.

`(3) DISCLOSURE OF OASDI SURPLUS- For purposes of enforcing any point of order under subsection (c), the surplus of the Federal Old-Age and Survivors Insurance Trust Fund for a fiscal year shall be the level set forth in the later of the report accompanying the concurrent resolution on the budget (or, in the absence of such a report, placed in the Congressional Record prior to the consideration of such resolution) or in the joint explanatory statement of managers accompanying such resolution.

`(f) ADDITIONAL CONTENT OF REPORTS ACCOMPANYING BUDGET RESOLUTIONS AND OF JOINT EXPLANATORY STATEMENTS- The report accompanying any concurrent resolution on the budget and the joint explanatory statement accompanying the conference report on each such resolution shall include the levels of the surplus in the budget for each fiscal year set forth in such resolution and of the surplus or deficit in the Federal Old-Age and Survivors Insurance Trust Fund, calculated using the assumptions set forth in subsection (e)(2)(A).'.

(3) In the first sentence of subsection (h) (as redesignated), by striking `(1)'.

END