II

106TH CONGRESS

1ST SESSION S. 27

To amend the Balanced Budget and Emergency Deficit Control Act of 1985

to extend and clarify the pay-as-you-go requirements regarding the Social

Security trust funds.

IN THE SENATE OF THE UNITED STATES

JANUARY 19, 1999

Mr. FEINGOLD (for himself and Mr. HOLLINGS) introduced the following bill;

which was read twice and referred jointly pursuant to the order of August

4, 1977, to the Committees on the Budget and Governmental Affairs,

with instructions that if one committee reports, the other committee have

thirty days to report or be discharged

A BILL

To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to extend and clarify the pay-as-yougo requirements regarding the Social Security trust

funds.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Social Security Trust

5 Fund Protection Act of 1999’’.
2

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1 SEC. 2. EXTENSION AND MODIFICATION OF PAY-AS-YOU-GO

2 REQUIREMENT.

3 (a) EXTENSION.—

4 (1) IN GENERAL.—Section 252(a) of the Bal5 anced Budget and Emergency Deficit Control Act of

6 1985 is amended by striking ‘‘enacted before Octo7 ber 1, 2002,’’ both places it appears.

8 (2) POINTS OF ORDER.—Section 275(b) of the

9 Balanced Budget and Emergency Deficit Control

10 Act of 1985 is amended by striking the last sen11 tence.

12 (b) MODIFICATION.—

13 (1) DEFINITION.—Section 250(c) of the Bal14 anced Budget and Emergency Deficit Control Act of

15 1985 is amended by adding at the end the following

16 new paragraph:

17 ‘‘(20) The term ‘budget increase’ means, for

18 purposes of section 252, an increase in direct spend19 ing outlays or a decrease in receipts relative to the

20 baseline, and the term ‘budget decrease’ means, for

21 purposes of section 252, a decrease in direct spend22 ing outlays or an increase in receipts relative to the

23 baseline.’’.

24 (2) PURPOSE.—Section 252(a) of the Balanced

25 Budget and Emergency Deficit Control Act of 1985

26 is amended—
3

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1 (A) by striking ‘‘increases the deficit’’ and

2 inserting ‘‘results in a net budget increase’’;

3 and

4 (B) by inserting before the period the fol5 lowing: ‘‘except to the extent that the total

6 budget surplus exceeds the social security sur7 plus’’.

8 (3) TIMING.—Section 252(b)(1) of the Bal9 anced Budget and Emergency Deficit Control Act of

10 1985 is amended—

11 (A) in its side heading by inserting ‘‘AND

12 AMOUNT’’ after ‘‘TIMING’’; and

13 (B) by striking ‘‘net deficit increase’’ and

14 inserting ‘‘net budget increase’’ and by adding

15 at the end the following new sentence: ‘‘The re16 quirement of the preceding sentence shall apply

17 for any fiscal year only to the extent that the

18 surplus, if any, before the sequestration re19 quired by this section in the total budget

20 (which, notwithstanding section 710 of the So21 cial Security Act, includes both on-budget and

22 off-budget Government accounts) is less than

23 the combined surplus for that year in the Fed24 eral Old-Age and Survivors Insurance Trust
4

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1 Fund and the Federal Disability Insurance

2 Trust Fund.’’.

3 (4) CALCULATING.—Section 252(b)(2) of the

4 Balanced Budget and Emergency Deficit Control

5 Act of 1985 is amended—

6 (A) in its side heading by striking ‘‘DEFI7 CIT INCREASE’’ and inserting ‘‘NET BUDGET IN8 CREASE’’;

9 (B) by striking ‘‘deficit increase or de10 crease’’ the first place it appears and inserting

11 ‘‘any net budget increase’’; and

12 (C) by striking ‘‘any net deficit increase or

13 decrease in the current year resulting from’’.

14 (5) ELIMINATING.—The side heading of section

15 252(c) of the Balanced Budget and Emergency Defi16 cit Control Act of 1985 is amended by striking

17 ‘‘DEFICIT INCREASE’’ and inserting ‘‘NET BUDGET

18 INCREASE’’.

Æ