3.0.0 568 2018-02-03T20:01:27Z 2018-02-05T15:26:39Z Senate S S 2005-03-08 109 ssbu00 Budget Committee Senate Standing Referred to 2005-03-08T23:58:15Z 2005-03-10 Sponsor introductory remarks on measure. (CR S2422-2424) IntroReferral B00100 9 Library of Congress 2005-03-08 ssbu00 Budget Committee Senate Read twice and referred to the Committee on the Budget. IntroReferral 2005-03-08 Introduced in Senate IntroReferral 10000 9 Library of Congress V000126 Sen. Voinovich, George V. [R-OH] GEORGE VOINOVICH R OH V. N F000061 Sen. Feingold, Russell D. [D-WI] RUSSELL FEINGOLD D WI D. 2005-03-08 True Economics and Public Finance Accounting Appropriations Auditing Authorization Biennial budgets Budget reconciliation Budget resolutions Capital budgets Capital investments Congress Congressional budget Congressional committees (House) Congressional committees (Senate) Congressional conference committees Congressional investigations Congressional oversight Congressional reporting requirements Congressional sessions Consultants Continuing resolutions Economic forecasting Economic statistics Federal budget process Federal budgets Finance and Financial Sector Financial statements Fiscal year Government Operations and Politics Government contractors Government insurance Government service contracts Government spending reductions Health House Appropriations House Budget House rules and procedure Legislation Legislative amendments Medicare Old age, survivors and disability insurance Performance measurement Planning-programming-budgeting Risk Senate Appropriations Senate Budget Senate rules and procedure Social Welfare Social security finance Strategic planning Economics and Public Finance 00 2005-03-08 Introduced in Senate 2005-03-29T18:09:06Z Truth in Budgeting and Social Security Protection Act of 2005 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) (BBEDC) to extend discretionary spending caps and pay-as-you-go (PAYGO) requirements.

Amends the Congressional Budget Act of 1974 (CBA) to prescribe authority and criteria for designation of emergency requirements, as well as points of order against such a designation.

Amends BBEDC to extend indefinitely certain budget enforcement mechanisms of discretionary spending limits (caps).

Amends CBA to require: (1) proposed legislation to contain a projection by the Congressional Budget Office (CBO) of the cost of debt servicing for measures; (2) conference reports to contain amounts allocated to the Committee on Appropriations subcommittees; and (3) the CBO to report on proposed legislation or conference reports by any committee that contain cost riders that are likely to increase the cost path of a measure.

Requires the President to report to specified congressional committees in January of each year on the fiscal exposures of the Federal Government and their implications for long-term financial health.

Federal Insurance Budgeting Act of 2005 - Requires that, starting FY 2008, the President's budget submission to Congress be based upon the risk-assumed cost of Federal insurance programs for accrual budgeting purposes. Amends cost requirements of Federal insurance programs.

Requires agencies responsible for Federal insurance programs to develop models to estimate their risk-assumed cost by year.

Amends CBA to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriations cycle and timetable. Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year.

Establishes the Commission on Federal Budget Concepts.]]>

Federal Insurance Budgeting Act of 2005 Short Titles as Introduced Federal Insurance Budgeting Act of 2005 Short Titles as Introduced Truth in Budgeting and Social Security Protection Act of 2005 Display Title Federal Insurance Budgeting Act of 2005 Official Title as Introduced A bill to balance the budget and protect the Social Security Trust Fund surpluses. Introduced in Senate 2005-03-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s568is/xml/BILLS-109s568is.xml 2005-03-10 Sponsor introductory remarks on measure. (CR S2422-2424) 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. 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.