Preserving Our Promise to Seniors Act

Bill: 112-hr-539
Sponsor: Rep. Deutch, Theodore E. [D-FL-19]
Introduced: 2011-02-08 in the House
Policy area: Social Welfare
Subjects: Employee benefits and pensions
Inflation and prices
Legislative rules and procedure
Poverty and welfare assistance
Railroads
Social security and elderly assistance
Transportation employees
Veterans' pensions and compensation

Summary:
action_date: 2011-02-08
text: 
Preserving Our Promise to Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPIEC) that indicates changes over time in consumption expenditures typical for individuals in the United States 62 years of age or older.
 
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to tie the CPIEC to computation of cost-of-lving increases in OASDI benefits. 
 
Directs the Secretary of the Treasury to disburse a cash payment of $250 (adjusted for inflation) for each non-COLA year to certain recipients of OASDI benefits, railroad retirement benefits, veterans disability compensation or pension benefits, or Supplemental Security Income (SSI) benefits under SSA title XVI. 
 
Amends the Internal Revenue Code to prescribe special rules for the determination of wages and self-employment income above the contribution and benefit base after 2011.
 
Amends SSA title II to include surplus average indexed monthly earnings (AIME) in the determination of primary OASDI amounts.
 
Develops points of order in the House of Representatives and the Senate with respect to consideration of any legislation whose effect would be a program: (1) reducing OASDI benefits in connection with contributions to individual beneficiary accounts in the private sector; or (2) providing for investment of amounts in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund in any investment vehicle other than interest-bearing U.S. obligations or U.S.-guaranteed obligations.
 

 
 


Legislative actions:
action_date: 2011-03-15
text: Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
action_date: 2011-02-14
text: Referred to the Subcommittee on Social Security.
action_date: 2011-02-09
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2011-02-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, 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: 2011-02-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, 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: 2011-02-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, 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: 2011-02-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, 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: 2011-02-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Rules, Transportation and Infrastructure, and Veterans' Affairs, 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: 2011-02-08
text: Introduced in House
action_date: 2011-02-08
text: Introduced in House