U.S. Congress - H.R.1090 Social Security Guarantee Plus Act of 2007
H.R.1090 - 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. view all titles (2)
All Bill Titles
- Official: 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. as introduced.
- Short: Social Security Guarantee Plus Act of 2007 as introduced.
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Official Summary
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 SecOfficial Summary
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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H.R.1090: Full-Service Community Schools Act of 2011 - U.S. ...
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Privatizing Social Security
HR1090 (Last major action: 3/13/2007: Referred to House Subcommittee on Social Security). Title: Social Security Guarantee Plus Act of 2007. Sponsor: Rep. Ron Lewis [R-KY-2]. Introduced: 2/15/2007. Co-sponsors: 3. Rep. Roscoe G. ...
McCains Social Security Privatization and the Lehman Brothers
HR1090 Title: Social Security Guarantee Plus Act of 2007 Sponsor: Rep. Ron Lewis [R-KY-2] Introduced: 2/15/2007 Co-sponsors: 3 Rep. Roscoe G. Bartlett [R-MD-6] Rep. John Abney Culberson [R-TX-7] Rep. Jerry Weller [R-IL-11] ...
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