H.R.2 - Social Security and Medicare Lock-Box Act of 2001107th Congress (2001-2002)
|Sponsor:||Rep. Herger, Wally [R-CA-2] (Introduced 02/08/2001)|
|Committees:||House - Budget; Rules | Senate - Budget; Finance; Governmental Affairs|
|Latest Action:||02/15/2001 Referred jointly to the Committee on the Budget; Governmental Affairs pursuant to the orders of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged.|
|Major Recorded Votes:||02/13/2001 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Subject — Policy Area:
- Economics and Public Finance
- View subjects
Summary: H.R.2 — 107th Congress (2001-2002)All Bill Information (Except Text)
Social Security and Medicare Lock-Box Act of 2001 - Amends the Congressional Budget Act of 1974 to provide a point of order against consideration of any: (1) budget resolution that sets forth a surplus for any fiscal year that is less than the surplus of the Federal Hospital Insurance Trust Fund for such year; or (2) legislation that would cause any surplus to be less than the Fund surplus for the covered fiscal year.
Passed House amended (02/13/2001)
Makes the point of order described in (1) above inapplicable to the extent that a violation would result from an assumption in the resolution of an increase in outlays or decrease in revenue relative to the baseline underlying the resolution for social security or Medicare reform legislation. Makes the point of order described in (2) above inapplicable to social security or Medicare reform legislation. Establishes the levels of surplus for purposes of enforcing the preceding points of order. Authorizes a waiver or suspension of such points of order only by an affirmative vote of three-fifths of the Members of the Senate.
Requires any Federal budget submitted by the President that recommends an on-budget surplus for any fiscal year that is less than the surplus of the Fund for such year to include a proposal for social security or Medicare reform legislation. Makes this Act inapplicable upon the enactment of social security and Medicare reform legislation. Defines "social security reform legislation" and "Medicare reform legislation" as a bill or joint resolution to save social security or Medicare, respectively, that specifies that it constitutes reform legislation.