Social Security Surplus Protection Act of 2007

Bill: 110-hr-4664
Sponsor: Rep. Kuhl, John R. "Randy", Jr. [R-NY-29]
Introduced: 2007-12-13 in the House
Policy area: Social Welfare
Subjects: Auditing
Budget deficits
Budget resolutions
Budget surpluses
Congress
Congressional reporting requirements
Congressional voting
Economics and Public Finance
Executive reorganization
Federal budgets
Federal officials
Government Operations and Politics
Government trust funds
House rules and procedure
Investment of public funds
Legislation
Legislative amendments
Legislative resolutions
Old age, survivors and disability insurance
Senate rules and procedure
Social security finance
Taxation

Summary:
action_date: 2007-12-13
text: 
Social Security Surplus Protection Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct the Managing Trustee to ensure that amounts in either the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund (Social Security Trust Funds) equivalent to the annual surplus for such Fund for any calendar year are made available to the Social Security Surplus Investment Board (SSSIB) on a timely basis for purposes of investment.
 
Requires the Managing Trustee also to ensure that Trust Fund assets are available for payment of benefits.
 
Establishes the SSSIB in the executive branch to provide for the investment of such amounts.
 
Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any concurrent resolution on the budget (or any amendment to it or conference report on it) that would set forth a deficit for any fiscal year for which there is a projected net surplus in the Social Security Trust Funds.
 
Makes it out of order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, motion, or conference report if its enactment would cause a deficit for any fiscal year for which there is a projected net surplus in the Trust Funds.


Legislative actions:
action_date: 2007-12-13
text: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, 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.
action_date: 2007-12-13
text: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, 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.
action_date: 2007-12-13
text: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, 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.
action_date: 2007-12-13
text: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, 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.
action_date: 2007-12-13
text: Introduced in House
action_date: 2007-12-13
text: Introduced in House