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   &lt;pre&gt;[Congressional Record Volume 167, Number 34 (Tuesday, February 23, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. WALBERG:H.R. 1269.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1--The Congress shall havepower to lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defence andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States.[Page H589]&lt;/pre&gt;
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     Tim
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     Walberg
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     Introduced in House
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     &lt;p&gt;&lt;b&gt;Social Security and Medicare Lock-Box Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill establishes (1)&amp;nbsp;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.&lt;/p&gt; &lt;p&gt;The Managing Trustee of&amp;nbsp;each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of&amp;nbsp;the trust fund to its respective&amp;nbsp;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.&lt;/p&gt; &lt;p&gt;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. &lt;/p&gt;
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   Social Security and Medicare Lock-Box Act
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     Social Security and Medicare Lock-Box Act
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     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.
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   Congressional Research Service, Library of Congress
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   This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
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H11100
2021-02-23
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
2021-02-23
Health Subcommittee
hswm02
1
House committee actions
Referred to the Subcommittee on Health.
Committee
2021-02-23
Social Security Subcommittee
hswm01
1
House committee actions
Referred to the Subcommittee on Social Security.
Committee
Intro-H
2021-02-23
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-02-23
9
Library of Congress
Introduced in House
IntroReferral
2021-02-23T19:04:05Z
Referred to
House
Ways and Means Committee
2021-02-23T15:34:42Z
Referred to
Health Subcommittee
hswm02
2021-02-23T15:34:37Z
Referred to
Social Security Subcommittee
hswm01
hswm00
Standing
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-02-23
2021-02-23
Referred to the House Committee on Ways and Means.
House
Health
W000798
7
Tim
Rep. Walberg, Tim [R-MI-7]
N
Walberg
R
MI
Advisory bodies Executive agency funding and structure Financial services and investments Government studies and investigations Government trust funds Medicare Social security and elderly assistance
2021-02-23
Introduced in House
 <p><b>Social Security and Medicare Lock-Box Act</b></p> <p>This bill establishes (1)&nbsp;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.</p> <p>The Managing Trustee of&nbsp;each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of&nbsp;the trust fund to its respective&nbsp;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.</p> <p>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. </p>
2021-03-31T13:56:10Z
00
2021-02-23T05:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr1269ih/xml/BILLS-117hr1269ih.xml
Social Security and Medicare Lock-Box Act
Social Security and Medicare Lock-Box Act
Display Title
IH
Introduced in House
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.
Official Title as Introduced
IH
Introduced in House
Social Security and Medicare Lock-Box Act
Short Title(s) as Introduced
HR
2023-01-11T13:47:11Z
2023-01-11T13:47:11Z
3.0.0
H11100
2021-02-23
Ways and Means Committee
hswm00
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House floor actions
Referred to the House Committee on Ways and Means.
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2021-02-23
Health Subcommittee
hswm02
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House committee actions
Referred to the Subcommittee on Health.
Committee
2021-02-23
Social Security Subcommittee
hswm01
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Referred to the Subcommittee on Social Security.
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2021-02-23
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2021-02-23
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Library of Congress
Introduced in House
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W000798
7
Tim
Rep. Walberg, Tim [R-MI-7]
N
Walberg
R
MI
Advisory bodies Executive agency funding and structure Financial services and investments Government studies and investigations Government trust funds Medicare Social security and elderly assistance
2021-02-23
Introduced in House
 <p><b>Social Security and Medicare Lock-Box Act</b></p> <p>This bill establishes (1)&nbsp;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.</p> <p>The Managing Trustee of&nbsp;each trust fund (in both cases, the Secretary of the Treasury) (1) must transfer the annual surplus of&nbsp;the trust fund to its respective&nbsp;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.</p> <p>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. </p>
2021-03-31T13:56:10Z
00
Social Security and Medicare Lock-Box Act
Social Security and Medicare Lock-Box Act
Display Title
IH
Introduced in House
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.
Official Title as Introduced
IH
Introduced in House
Social Security and Medicare Lock-Box Act
Short Title(s) as Introduced
2021-02-23
Referred to the House Committee on Ways and Means.