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S. 1769 (eah) [Engrossed Amendment House] ...
106th CONGRESS 1st Session S. 1768 To amend the Congressional Budget Act of 1974 to protect Social Security surpluses through strengthened budgetary enforcement mechanisms. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES October 21, 1999 Mr. Abraham introduced the following bill; which was read twice and referred jointly pursuant to the order of August 4, 1977, to the Committee on the Budget and Governmental Affairs, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged _______________________________________________________________________ A BILL To amend the Congressional Budget Act of 1974 to protect Social Security surpluses through strengthened budgetary enforcement mechanisms. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This title may be cited as the ``Social Security Surplus Preservation and Debt Reduction Act''. SEC. 2. FINDINGS. Congress finds that-- (1) The $69,246,000,000 unified budget surplus achieved in fiscal year 1998 was entirely due to surpluses generated by the social security trust funds and the cumulative unified budget surpluses projected for subsequent fiscal years are primarily due to surpluses generated by the social security trust funds; (2) Congress and the President should balance the budget excluding the surpluses generated by the social security trust funds; (3) according to the Congressional Budget Office, balancing the budget excluding the surpluses generated by the social security trust funds will reduce the debt held by the public by a total of $1,859,500,000,000 by the end of fiscal year 2009; (4) social security surpluses should be used for social security reform or to reduce the debt held by the public and should not be spent on other programs; and (5) if Social Security surpluses are not raided to pay for non-Social Security spending, they will, under current law, be used to reduce the debt held by the public and thereby improve the future viability of the Social Security system. SEC. 3. PROTECTION OF THE SOCIAL SECURITY TRUST FUNDS. (a) Protection by Congress.-- (1) Reaffirmation of support.--Congress reaffirms its support for the provisions of section 13301 of the Budget Enforcement Act of 1990 that provides that the receipts and disbursements of the social security trust funds shall not be counted for the purposes of the budget submitted by the President, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985. (2) Protection of social security benefits.--If there are sufficient balances in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, the Secretary of Treasury shall give priority to the payment of social security benefits required to be paid by law. (b) Points of Order.--Section 301 of the Congressional Budget Act of 1974 is amended by adding at the end the following: ``(j) Social Security Point of Order.--It shall not be in order in the Senate to consider a concurrent resolution on the budget, an amendment thereto, or a conference report thereon that violates section 13301 of the Budget Enforcement Act of 1990. ``(k) Social Security Surplus Protection Point of Order.-- ``(1) In general.--It shall not be in order in the Senate to consider a concurrent resolution on the budget, an amendment thereto, or a conference report thereon that sets forth a deficit in any fiscal year. ``(2) Exception.--Paragraph (k) shall not apply if the deficit for a fiscal year results solely from the enactment of-- ``(A) social security reform legislation, as defined in section 253A(e)(2) of the Balanced Budget and Emergency Deficit Control Act of 1985; or ``(B) provisions of legislation that are designated as an emergency requirement pursuant to section 251(b)(2)(A) or 252(e) of the Balanced Budget and Emergency Deficit Control Act of 1985.''. (c) Supermajority Waiver and Appeal.--Subsections (c)(1) and (d)(2) of section 904 of the Congressional Budget Act of 1974 are amended by striking ``305(b)(2),'' and inserting ``301(k), 305(b)(2),''. SEC 4. PRESIDENT'S BUDGET. Section 1105(f) of title 31, United States Code, is amended by striking ``in a manner consistent'' and inserting ``in compliance''. SEC. 5. SENSE OF THE SENATE ON MEDICARE RESERVE FUND. (a) Findings.--The Senate finds that-- (1) the Congressional budget plan has $505,000,000,000 over ten years in unallocated budget surpluses that could be used for long-term medicare reform, other priorities, or debt reduction; (2) the Congressional budget resolution for fiscal year 2000 already has set aside $90,000,000,000 over ten years through a reserve fund for long-term medicare reform including prescription drug coverage; (3) the President estimates that his medicare proposal will cost $46,000,000,000 over 10 years; and (4) thus the Congressional budget resolution provides more than adequate resources for medicare reform, including prescription drugs. (b) Sense of the Senate.--It is the sense of the Senate that the Congressional budget resolution for fiscal year 2000 provides a sound framework for allocating resources to medicare to modernize medicare benefits, improve the solvency of the program, and improve coverage of prescription drugs. <all>
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