Social Security Guarantee Plus Act of 2007

To amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensuring full benefits for all workers and their families, restoring long-term Social Security solvency, to make certain benefit improvements, and for other purposes.

2/15/2007--Introduced.
Social Security Guarantee Plus Act of 2007 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable credits and interest.
Requires designation of a certified account manager by or on behalf of each covered individual to hold the individual's Social Security guarantee account assets for investment, including in common stock portfolios and fixed income securities.
Amends the IRC to make the Social Security guarantee accounts benefits taxable as Social Security benefits.
Amends the Congressional Budget Act to provide for a lock-box for Social Security surpluses. Amends SSA title II to:
(1) repeal the limitation on the amount of outside income which beneficiaries age 62 or over may earn (earnings test) without incurring a reduction in benefits;
(2) increase widow's and widower's insurance benefits;
(3) provide for benefits for disabled widows and widowers without regard to age;
(4) repeal the seven-year restriction on eligibility for widow's and widower's insurance benefits based on disability;
(5) waive the two-year waiting period for a divorced spouse's benefits if the other spouse remarries;
(6) increase the amount of wages and self-employment income credited to years taken into account for beneficiaries precluded from remunerative work by the needs of child care; and
(7) reduce the Government pension offset.


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Sponsor

• Rep. Ron Lewis [R, KY-2]
• and 3 Co-Sponsors
  • Rep. Roscoe Bartlett [R, MD-6]
  • Rep. John Culberson [R, TX-7]
  • Rep. Gerald Weller [R, IL-11]
  close

Committees

• House Ways and Means
• 3 more
  • House Ways and Means
  • House Rules
  • House Budget
  close

Amendments

This bill has no amendments.

Amendments to H.R.1090

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
February 15, 2007

Show All Actions (8 actions)Hide Actions

All Bill Actions

• Mar 13, 2007: Referred to the Subcommittee on Social Security.
• Feb 15, 2007: Referred to House Rules
• Feb 15, 2007: Referred to House Budget
• Feb 15, 2007: Referred to House Ways and Means
• Feb 15, 2007: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, 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.
• Feb 15, 2007: Sponsor introductory remarks on measure. (CR E370-371)
• Introduced on Feb 15, 2007.
• Feb 15, 2007: Introductory remarks on measure. (CR E370-371)

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• Indexing (Economic policy)
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• Marriage
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• Old age, survivors and disability insurance
• Older workers
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Data from the Congressional Research Service

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Blog Coverage

March 17, 2008 The Spoof

Congress To Pass Breathing Tax Hr 1090.

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February 14, 2008 To allow revision of veterans benefits decisions based on clear ...

United States. Congress. House. Committee on Veterans' Affairs.

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September 17, 2007 Social security act problems

The statute law that I hold proposed, the sociable security guarantee asset act (HR 1090), initially proposed by former The sociable security program was established by the sociable security act of Under the up-to-the-minute prognosis, ...

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