H.R.1276 - Social Security Protection and Truth in Budgeting Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Moore, Dennis [D-KS-3] (Introduced 03/03/2009)|
|Committees:||House - Ways and Means; Budget|
|Latest Action:||03/03/2009 Referred to House Budget (All Actions)|
This bill has the status Introduced
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Summary: H.R.1276 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (03/03/2009)
Social Security Protection and Truth in Budgeting Act of 2009 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security trust funds) from being included in the federal budget baseline for any fiscal year and from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of offsetting any tax decrease or spending increase. Excludes Social Security trust fund receipts and disbursements totals from official Office of Management and Budget and Congressional Budget Office budget pronouncements.
Makes proceeds to the Social Security trust funds from Social Security taxes available solely for OASDI purposes. Prohibits their availability for the establishment or funding of private accounts.