[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2628 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 2628

 To confirm the President's commitment that the social security trust 
       funds will not be used other than for payment of benefits.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 14, 1995

 Mr. Gephardt (for himself, Mr. Bonior, Mr. Fazio of California, Mrs. 
Kennelly, Mr. Matsui, Mr. Gutierrez, Ms. Kaptur, Mr. Torres, Mr. Owens, 
   Mr. Brewster, Mr. Studds, Mr. Yates, Mr. Stark, Mr. Volkmer, Mrs. 
    Thurman, Mr. Frost, Mr. Miller of California, Mr. LaFalce, Mr. 
   Oberstar, Mr. Gejdenson, Ms. Eddie Bernice Johnson of Texas, Mr. 
   Lipinski, Mr. Stupak, Mr. Neal of Massachusetts, Mr. Fattah, Ms. 
   Danner, Ms. Slaughter, Mr. Thornton, Mr. Costello, Mr. Engel, Mr. 
   Mfume, Mr. Vento, Mr. Chapman, Mr. Holden, Mr. Kleczka, Mr. de la 
Garza, Mr. Poshard, Ms. Eshoo, Mr. Wise, Mr. Markey, Mr. Pete Geren of 
Texas, Mr. Coleman, Mr. Lantos, Mr. Rahall, Mr. Conyers, Mr. Klink, Ms. 
 McCarthy, Mr. Reed, Mr. Frank of Massachusetts, Mr. Kennedy of Rhode 
    Island, Mr. Doyle, Ms. Harman, Mr. Deutsch, Mr. Torricelli, Mr. 
Sisisky, Ms. Woolsey, Mr. Filner, Mr. Wilson, Mr. Ackerman, Mr. Tanner, 
  Mr. Schumer, Mr. McDermott, Mr. Visclosky, Mr. Durbin, Mr. Brown of 
  Ohio, Mrs. Mink of Hawaii, Mr. Pastor, Mr. Scott, Mr. Pomeroy, Mr. 
  DeFazio, Mr. Watt of North Carolina, Mr. Barrett of Wisconsin, Ms. 
Rivers, Mr. Minge, Mrs. Lowey, Ms. Lofgren, Mr. Farr of California, Mr. 
 Menendez, Mr. Pickett, Mr. Rush, Mr. Obey, Mr. Peterson of Minnesota, 
 and Mr. Condit) introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To confirm the President's commitment that the social security trust 
       funds will not be used other than for payment of benefits.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RESTRICTED USE OF THE SOCIAL SECURITY TRUST FUNDS.

    The Secretary of the Treasury may not use amounts held in any 
covered Federal fund for any purpose other than paying benefits and 
related administrative expenses from such fund.

SEC. 2. CONTINUED INVESTMENT OF AMOUNTS RECEIVED BY THE SOCIAL SECURITY 
              TRUST FUNDS.

    Notwithstanding the public debt limit, the Secretary of the 
Treasury may invest amounts credited to any covered Federal fund in 
accordance with normal operating procedures as otherwise provided by 
law.

SEC. 3. COVERED FEDERAL FUND.

    For purposes of this Act, the term ``covered Federal fund'' means--
            (1) the Federal Old-Age and Survivors Insurance Trust Fund;
            (2) the Federal Disability Insurance Trust Fund; and
            (3) each of the railroad retirement funds and accounts.
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