[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 1678 Introduced in Senate (IS)]







105th CONGRESS
  2d Session
                                S. 1678

To amend the Balanced Budget and Emergency Deficit Control Act of 1985 
  to extend and clarify the pay-as-you-go requirements regarding the 
                      Social Security trust funds.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 25, 1998

 Mr. Feingold (for himself and Mr. Hollings) introduced the following 
 bill; which was read twice and referred jointly pursuant to the order 
 of August 4, 1977, as modified by the order of April 11, 1986, to the 
 Committees on the Budget and Governmental Affairs, with instructions 
that if one committee reports, the other committee have thirty days to 
                        report or be discharged

_______________________________________________________________________

                                 A BILL


 
To amend the Balanced Budget and Emergency Deficit Control Act of 1985 
  to extend and clarify the pay-as-you-go requirements regarding the 
                      Social Security trust funds.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security Trust Fund 
Protection Act of 1998''.

SEC. 2. EXTENSION AND MODIFICATION OF PAY-AS-YOU-GO REQUIREMENT.

    (a) Extension.--(1) Section 252(a) of the Balanced Budget and 
Emergency Deficit Control Act of 1985 is amended by striking ``enacted 
before October 1, 2002,'' both places it appears.
    (2) Section 275(b) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 is amended by striking the last sentence.
    (b) Modification.--(1) Section 250(c) of the Balanced Budget and 
Emergency Deficit Control Act of 1985 is amended by adding at the end 
the following new paragraph:
            ``(20) The term `budget increase' means, for purposes of 
        section 252, an increase in direct spending outlays or a 
        decrease in receipts relative to the baseline, and the term 
        `budget decrease' means, for purposes of section 252, a 
        decrease in direct spending outlays or an increase in receipts 
        relative to the baseline.''.
    (2) Section 252(a) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 is amended--
            (A) by striking ``increases the deficit'' and inserting 
        ``results in a net budget increase''; and
            (B) by inserting before the period the following: ``except 
        to the extent that the total budget surplus exceeds the social 
        security surplus''.
    (3) Section 252(b)(1) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 is amended--
            (A) in its side heading by inserting ``and amount'' after 
        ``Timing''; and
            (B) by striking ``net deficit increase'' and inserting 
        ``net budget increase'' and by adding at the end the following 
        new sentence: ``The requirement of the preceding sentence shall 
        apply for any fiscal year only to the extent that the surplus, 
        if any, before the sequestration required by this section in 
        the total budget (which, notwithstanding section 710 of the 
        Social Security Act, includes both on-budget and off-budget 
        Government accounts) is less than the combined surplus for that 
        year in the Federal Old-Age and Survivors Insurance Trust Fund 
        and the Federal Disability Insurance Trust Fund.''.
    (4) Section 252(b)(2) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 is amended--
            (A) in its side heading by striking ``deficit increase'' 
        and inserting ``net budget increase'';
            (B) by striking ``deficit increase or decrease'' the first 
        place it appears and inserting ``any net budget increase''; and
            (C) by striking ``any net deficit increase or decrease in 
        the current year resulting from''.
    (5) The side heading of section 252(c) of the Balanced Budget and 
Emergency Deficit Control Act of 1985 is amended by striking ``Deficit 
Increase'' and inserting ``Net Budget Increase''.
                                 <all>