U.S. Congress - H.R.796 Social Security Protection and Truth in Budgeting Act of 2011
H.R.796 - Social Security Protection and Truth in Budgeting Act of 2011
To amend title II of the Social Security Act to ensure that the receipts and disbursements of the Social Security trust funds are not included in a unified Federal budget and to provide that Social Security contributions are used to protect Social Security solvency by mandating that Trust Fund monies cannot be diverted to create private accounts. view all titles (2)
All Bill Titles
- Official: To amend title II of the Social Security Act to ensure that the receipts and disbursements of the Social Security trust funds are not included in a unified Federal budget and to provide that Social Security contributions are used to protect Social Security solvency by mandating that Trust Fund monies cannot be diverted to create private accounts. as introduced.
- Short: Social Security Protection and Truth in Budgeting Act of 2011 as introduced.
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Official Summary
2/18/2011--Introduced.Social Security Protection and Truth in Budgeting Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and thOfficial Summary
2/18/2011--Introduced.Social Security Protection and Truth in Budgeting Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security trust funds) from being included in the federal budget baseline for any fiscal year and from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of offsetting any tax decrease or spending increase. Excludes Social Security trust fund receipts and disbursements totals from official Office of Management and Budget (OMB) and Congressional Budget Office (CBO) budget pronouncements. Makes proceeds to the Social Security trust funds from Social Security taxes available solely for OASDI purposes. Prohibits their availability for the establishment or funding of private accounts....Read the Rest
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