Proposal:Social Security and Medicare Lock-Box Act

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 1215
Type of Legislation	House Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

Social Security and Medicare Lock-Box Act

This bill establishes (1) in the Federal Old-Age and Survivors Insurance Trust Fund, a Social Security Surplus Protection Account; and (2) in the Federal Hospital Insurance Trust Fund, a Medicare Surplus Protection Account.

The Managing Trustee of each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of the trust fund to its respective account; and (2) may not invest the balance in the account until a law takes effect that authorizes, for amounts in the trust fund, an investment vehicle other than U.S. obligations.

The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the trust funds, other than investments in the form of U.S. obligations.

Bill Title

Social Security and Medicare Lock-Box Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2019-02-13: Referred to the Subcommittee on Social Security.
• 2019-02-13: Referred to the House Committee on Ways and Means.
• 2019-02-13: Introduced in House
• 2019-02-13: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.