S.1795 - Social Security Preservation Act101st Congress (1989-1990)
|Sponsor:||Sen. Hollings, Ernest F. [D-SC] (Introduced 10/25/1989)|
|Committees:||Senate - Budget; Governmental Affairs|
|Latest Action:||Senate - 10/25/1989 Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one committee reports, the other committee have thirty days of continuous session to report or be discharged. (All Actions)|
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Summary: S.1795 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in Senate (10/25/1989)
Social Security Preservation Act - Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning with FY 1990, Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund receipts and outlays from Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Increases the permissible maximum deficit amounts for FY 1990 through 1992. Establishes allowable maximum deficits for FY 1993 and 1994, to reach zero with respect to FY 1995.
Amends the Social Security Act to require the Board of Trustees of the Trust Funds to review methods of maximizing the investment return on the social security trust funds.