What is House Bill H.R. 1520?
This bill would safeguard the Social Security and Medicare Part A Trust Funds, prohibiting congresspersons from using those funds for unrelated purposes. The bill would also establish a 9-person commission to determine alternative forms of investment for the surplus funds.
The bill impacts Social Security, and those who receive it, or plan to.
Cost of House Bill H.R. 1520
A CBO estimate is currently unavailable.
-Roughly 84 million people are on track to use Social Security by 2030.
Social Security and Medicare Lock-Box Act
To amend titles II and XVIII of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus and a Medicare Surplus Protection Account in the Federal Hospital Insurance Trust Fund to hold the Medicare surplus, to provide for suspension of investment of amounts held in such Accounts until enactment of legislation providing for investment of the Trust Funds in investment vehicles other than obligations of the United States, and to establish a Social Security and Medicare Part A Investment Commission to make recommendations for alternative forms of investment of the Social Security and Medicare surpluses.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansHealthIntroducedMarch 19th, 2015
- house Committees