‘‘(4) revenues from taxes imposed under chap-
ter 1 of the Internal Revenue Code of 1986, to the 
extent attributable to section 86 of such Code (relat-
ing to taxation of social security and tier 1 railroad 
retirement benefits), which shall be treated as a re-
ceipt of the Government.’’. 
(b) CONFORMING AMENDMENTS.—
(1) Section 13301 of the Budget Enforcement 
Act of 1990 (2 U.S.C. 632; 2 U.S.C. 632 note) is 
repealed. 
(2) Section 405 of the Congressional Budget 
Act of 1974 (2 U.S.C. 655) is amended—
(A) by inserting ‘‘other than section 710 of 
the Social Security Act’’ after ‘‘Notwith-
standing any other provision of law’’; and 
(B) by striking ‘‘section, not including’’ 
and all that follows through ‘‘Funds,’’ and in-
serting ‘‘section’’ . 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply with respect to fiscal years begin-
ning on or after October 1, 2005.
SEC. 10. DEDICATION OF BUDGET SURPLUSES TO SAVING 
SOCIAL SECURITY. 
Section 201 of the Social Security Act (as amended 
by section 103 of this Act) is amended further by adding 
at the end the following new subsection: 
‘‘(p) In the case of any fiscal year beginning after 
September 30, 2005, for which the total amount treated 
as income of the Federal Government in the total budget 
of the United States have exceeded the total amount treat-
ed as expenditures of the Federal Government in the total 
budget of the United States (as determined by the Direc-
tor of the Office of Management and Budget), not later 
than 3 months after the end of such fiscal year, the Sec-
retary of the Treasury shall transfer from the general fund 
of the Treasury to the Federal Old-Age and Survivors In-
surance Trust Fund an amount equal to the lesser of—
‘‘(1) the total amount transferred from the 
Trust Fund during such fiscal year to the Social Se-
curity Personal Savings Fund under section 252(b), 
or 
‘‘(2) the amount by which such total amount 
treated as receipts exceeded such total amount treat-
ed as expenditures.’’.
SEC. 11. NATIONAL SPENDING LIMITATION. 
(a) IN GENERAL.—Section 1105 of title 31, United 
States Code, is amended by adding at the end the fol-
lowing new subsection: 
‘‘(i)(1) The budget transmitted pursuant to sub-
section (a) for a fiscal year shall not provide for total ex-
penditures for the fiscal year for which the budget is sub-
mitted which are greater than the national spending limi-
tation specified under paragraph (3). 
‘‘(2) For purposes of this section, the term ‘total ex-
penditures’ means, for any fiscal year, the sum of— 
‘‘(A) the net expenditures of the budget of the 
United States for the fiscal year plus all expendi-
tures which are chargeable to the Social Security 
Part A Account in the Social Security Lockbox 
Budget for the fiscal year under section 706(c)(2) of 
the Social Security Act; plus 
‘‘(B) the amount of the reduction in the total 
amount of expenditures which are chargeable to the 
Social Security Part A Account in the Social Secu-
rity Lockbox Budget for the fiscal year which is at-
tributable to adjustments to primary insurance 
amounts under section 215(j) of the Social Security 
Act. 
‘‘(3)(A) For each fiscal year during the period begin-
ning with fiscal year 2005 and ending with fiscal year