I

107TH CONGRESS

1ST SESSION H. R. 1065

To protect the Social Security system and to amend the Congressional Budget

Act of 1974 to require a two-thirds vote for legislation that changes

the discretionary spending limits or the pay-as-you-go provisions of the

Balanced Budget and Emergency Deficit Control Act of 1985 if the

budget for the current year (or immediately preceding year) was not

in surplus.

IN THE HOUSE OF REPRESENTATIVES

MARCH 15, 2001

Mr. ANDREWS introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Rules,

and 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

A BILL

To protect the Social Security system and to amend the

Congressional Budget Act of 1974 to require a twothirds vote for legislation that changes the discretionary

spending limits or the pay-as-you-go provisions of the

Balanced Budget and Emergency Deficit Control Act

of 1985 if the budget for the current year (or immediately preceding year) was not in surplus.

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

2 This Act may be cited as the ‘‘Save Social Security

3 First Act of 2001’’.

4 SEC. 2. TRANSFER OF FUNDS.

5 At the end of each fiscal year for which the budget

6 is in surplus, the Secretary of the Treasury shall transfer

7 from the general fund of the Treasury an amount equal

8 to that surplus to the Federal Old-Age and Survivors In9 surance Trust Fund and the Federal Disability Insurance

10 Trust Fund. The amounts so transferred shall be divided

11 between the trust funds in the same proportion as all other

12 receipts of those trust funds in that year.

13 SEC. 3. INVESTMENT OF TRANSFERRED FUNDS.

14 Within 90 days after the date of enactment of this

15 Act, the Board of Trustees of the Federal Old-Age and

16 Survivors Insurance Trust Fund and the Federal Dis17 ability Insurance Trust Fund shall promulgate guidelines

18 to govern the investment of amounts transferred under

19 section 2 and shall submit such guidelines to each House

20 of Congress. If Congress, by law, disapproves such guide21 lines, then they shall have no force or effect after the date

22 of enactment of such Act and the Board of Trustees shall

23 invest those amounts in the same manner as other moneys

24 in such Funds are invested.
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1 SEC. 4. DISCRETIONARY CAP OR PAY-AS-YOU-GO MODIFICA2 TION MAY REQUIRE TWO-THIRDS VOTE.

3 Section 312 of the Congressional Budget Act of 1974

4 is amended by adding at the end the following new sub5 section:

6 ‘‘(g) DISCRETIONARY CAP OR PAY-AS-YOU-GO MODI7 FICATION MAY REQUIRE TWO-THIRDS VOTE.—

8 ‘‘(1) If—

9 ‘‘(A) the budget for the current year was

10 not in surplus (or, if actual figures are unavail11 able, then if the Director of the Congressional

12 Budget Office did not project a surplus for that

13 year); or

14 ‘‘(B) the budget for the fiscal year imme15 diately preceding the current year was not in

16 surplus;

17 then any bill, joint resolution, amendment, or conference

18 report that repeals, increases, or waives any discretionary

19 spending limit set forth in section 251 of the Balanced

20 Budget and Emergency Deficit Control Act of 1985 or re21 peals or waives section 252 (pay-as-you-go sequestration)

22 of that Act shall not be considered as passed or agreed

23 to unless so determined by a vote of not less than two24 thirds of the Members voting.

25 ‘‘(2) DEFINITIONS.—As used in paragraph (1),

26 the term ‘current year’ has the meanings given to
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1 such term in section 250(c) of the Balanced Budget

2 and Emergency Deficit Control Act of 1985.

3 SEC. 5. TECHNICAL AMENDMENT.

4 Any transfer required by section 2 shall not count

5 as an outlay for purpose of the pay-as-you-go requirement

6 contained in section 252 of the Balanced Budget and

7 Emergency Deficit Control Act of 1985 and shall be ex8 empt from any sequestration under that Act.

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