3.0.0 107 2023-01-11T13:15:52Z 2023-01-11T13:15:52Z House H HR 2009-01-06 111 hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2009-03-16T21:48:38Z Referred to 2009-01-06T17:01:45Z hsif00 Energy and Commerce Committee House Standing hsif14 Health Subcommittee Referred to 2009-01-14T20:09:28Z Referred to 2009-01-06T17:01:47Z hsru00 Rules Committee House Standing Referred to 2009-01-06T17:01:48Z hsbu00 Budget Committee House Standing Referred to 2009-01-06T17:01:46Z hswm00 Ways and Means Committee House Standing Referred to 2009-01-06T17:01:44Z 2009-03-16 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2009-01-14 hsif14 Health Subcommittee 1 House committee actions Referred to the Subcommittee on Health. Committee 2009-01-06 Referred to House Rules IntroReferral H11100 2 House floor actions hsru00 Rules Committee 2009-01-06 Referred to House Energy and Commerce IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2009-01-06 Referred to House Budget IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 2009-01-06 Referred to House Education and Labor IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2009-01-06 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, the Budget, Energy and Commerce, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2009-01-06 Referred to House Ways and Means IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2009-01-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-01-06 Introduced in House IntroReferral 1000 9 Library of Congress F000444 Rep. Flake, Jeff [R-AZ-6] JEFF FLAKE R AZ 6 N F000450 Rep. Foxx, Virginia [R-NC-5] Virginia Foxx R NC 5 2009-01-06 True J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2009-01-06 True Social Welfare Budget deficits and national debt Employment taxes Executive agency funding and structure Financial services and investments Government trust funds Health care costs and insurance Health care coverage and access Income tax exclusion Medicare Self-employed Social security and elderly assistance Tax administration and collection, taxpayers Social Welfare 00 2009-01-06 Introduced in House 2009-01-14T19:35:32Z Securing Medicare and Retirement for Tomorrow Act of 2009 or SMART Act of 2009 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to add a new part B (Personal Social Security Savings Program) under which each employer shall establish and maintain for each participating employee a personal Social Security account under a Social Security payroll deduction plan. Provides for the participation by self-employed individuals and the investment of personal Social Security account funds in one qualified Social Security mutual fund designated by the participating individual.

Establishes the Personal Accounts Management and Review Board, and requires it to establish a program for designating qualified Social Security mutual funds.

Provides for election of SSA title II part A (Insurance Benefits) in lieu of part B benefits at retirement.

Establishes in the Treasury the Social Security Escrow Fund and provides for investment of its holdings.

Amends SSA title XVIII (Medicare) with respect to personal Social Security accounts.

Amends the Internal Revenue Code to impose a tax on the failure of Medicare retirees to obtain qualified health insurance coverage.

Provides for a reduction in rate of the Federal Insurance Contributions Act (FICA) tax on employers if the Fund is ever projected to have excess funds during the ensuing calendar year, and will have no need to borrow funds for the next 10 calendar years.

Prohibits collection of the FICA tax with respect to individuals who have attained retirement age.

Excludes from an individual's gross income any distributions from a personal Social Security account or any amount received under a qualified Social Security annuity.

Provides for budget reform transfers from the general fund of the Treasury to the Social Security Escrow Fund of any tax revenues in excess of specified target revenue amounts (if any) for the fiscal year.

Amends the Congressional Budget Act of 1974 to provide for dedication of Social Security surpluses to reduction in the public debt.

]]> Securing Medicare and Retirement for Tomorrow Act of 2009 Display Title Securing Medicare and Retirement for Tomorrow Act of 2009 Official Title as Introduced To reform Social Security retirement and Medicare by establishing a Personal Social Security Savings Program to create a safer, healthier, more secure, and more prosperous retirement for all Americans and to reduce the burden on young Americans. Introduced in House IH Short Titles as Introduced Securing Medicare and Retirement for Tomorrow Act of 2009 Short Titles as Introduced SMART Act of 2009 Introduced in House 2009-01-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr107ih/xml/BILLS-111hr107ih.xml 2009-03-16 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. 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.