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 Com-
mittee 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 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 imme-
diately preceding year) was not in surplus.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Save Social Security
First Act of 2001’’.
SEC. 2. TRANSFER OF FUNDS.
At the end of each fiscal year for which the budget
is in surplus, the Secretary of the Treasury shall transfer
from the general fund of the Treasury an amount equal
to that surplus to the Federal Old-Age and Survivors In-
surance Trust Fund and the Federal Disability Insurance
Trust Fund. The amounts so transferred shall be divided
between the trust funds in the same proportion as all other
receipts of those trust funds in that year.
SEC. 3. INVESTMENT OF TRANSFERRED FUNDS.
Within 90 days after the date of enactment of this
Act, the Board of Trustees of the Federal Old-Age and
Survivors Insurance Trust Fund and the Federal Dis-
ability Insurance Trust Fund shall promulgate guidelines
to govern the investment of amounts transferred under
section 2 and shall submit such guidelines to each House
of Congress. If Congress, by law, disapproves such guide-
lines, then they shall have no force or effect after the date
of enactment of such Act and the Board of Trustees shall
invest those amounts in the same manner as other moneys
in such Funds are invested.
SEC. 4. DISCRETIONARY CAP OR PAY-AS-YOU-GO MODIFICA-
TION MAY REQUIRE TWO-THIRDS VOTE.
Section 312 of the Congressional Budget Act of 1974
is amended by adding at the end the following new sub-
section:
‘‘(g) DISCRETIONARY CAP OR PAY-AS-YOU-GO MODI-
FICATION MAY REQUIRE TWO-THIRDS VOTE.—
‘‘(1) If—
‘‘(A) the budget for the current year was
not in surplus (or, if actual figures are unavail-
able, then if the Director of the Congressional
Budget Office did not project a surplus for that
year); or
‘‘(B) the budget for the fiscal year imme-
diately preceding the current year was not in
surplus;
then any bill, joint resolution, amendment, or conference
report that repeals, increases, or waives any discretionary
spending limit set forth in section 251 of the Balanced
Budget and Emergency Deficit Control Act of 1985 or re-
peals or waives section 252 (pay-as-you-go sequestration)
of that Act shall not be considered as passed or agreed
to unless so determined by a vote of not less than two-
thirds of the Members voting.
‘‘(2) DEFINITIONS.—As used in paragraph (1),
the term ‘current year’ has the meanings given to
such term in section 250(c) of the Balanced Budget
and Emergency Deficit Control Act of 1985.
SEC. 5. TECHNICAL AMENDMENT.
Any transfer required by section 2 shall not count
as an outlay for purpose of the pay-as-you-go requirement
contained in section 252 of the Balanced Budget and
Emergency Deficit Control Act of 1985 and shall be ex-
empt from any sequestration under that Act.
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