SOS Act

Bill: 118-s-3972
Sponsor: full_name: Sen. Cassidy, Bill [R-LA]
Introduced: 2024-03-19
Policy area: Economics and Public Finance
Latest action: action_date: 2024-03-19
text: Read twice and referred to the Committee on the Budget.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 3972 IN THE SENATE OF THE UNITED STATES March 19, 2024 Mr. Cassidy (for himself, Mr. Manchin , and Mr. Braun ) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide to Congress information on payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, and for other purposes.

1. Short title This Act may be cited as the Save Our Seniors Act or the SOS Act . 2. Information on payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund Section 202(e)(1) of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 602(e)(1) ) is amended— (1) by inserting (A) before On or before February 15 ; (2) by striking including (A) alternative and inserting the following: “including— (i) alternative ; (3) by striking deficits), (B) the levels and inserting the following: “deficits); (ii) the levels ; (4) by striking year, and (C) a statement and inserting the following: “year; and (iii) a statement ; (5) by striking Such report and inserting the following: (B) Each report under subparagraph (A) ; and (6) by adding at the end the following: (C) Each report under subparagraph (A) shall include a comparison, expressed in graph format and included with other information in the report on the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, between— (i) the amount assumed under section 257(b)(1) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 907(b)(1) ); and (ii) outlays from payments from such trust funds based on the assumption that payments would be consistent with the amounts payable from dedicated funding sources as under current law. .