Summary: H.R.5227 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.5227. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (08/11/1988)

Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning with FY 1990, receipts and outlays for the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund from Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Directs the Board of Trustees of these trust funds to make a thorough study with respect to redirecting amounts that would ordinarily be paid as employment taxes into individual retirement accounts or other retirement income arrangements. Enumerates items to be included in the study. Requires the Board to report its findings to specified congressional leadership within one year of this Act's enactment.