[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 302 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                 S. 302

 To establish a procedure to safeguard the Social Security Trust Funds.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 16, 2007

  Mr. Vitter introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To establish a procedure to safeguard 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 Lock-Box Act of 
2007''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds that--
            (1) fiscal pressures will mount as an aging population 
        increases the Government's obligations to provide retirement 
        income and health services;
            (2) Social Security surpluses should be reserved for 
        strengthening and preserving the Social Security Trust Funds; 
        and
            (3) preserving Social Security surpluses would restore 
        confidence in the long-term financial integrity of Social 
        Security.
    (b) Purpose.--It is the purpose of this Act to prevent the Social 
Security Trust Funds from being used for any purpose other than 
providing retirement security.

SEC. 3. PROTECTION OF SOCIAL SECURITY TRUST FUNDS.

    (a) Protection of Social Security.--Title III of the Congressional 
Budget Act of 1974 is amended by adding at the end the following new 
section:

                     ``lock-box for social security

    ``Sec. 316.  (a) Lock-Box for Social Security.--
            ``(1) Concurrent resolutions on the budget.--
                    ``(A) In general.--It shall not be in order in the 
                House of Representatives or the Senate to consider any 
                concurrent resolution on the budget, or an amendment 
                thereto or conference report thereon, that would set 
                forth totals for any fiscal year with respect to the 
                Social Security Trust Funds that are less than the 
                totals of the Social Security Trust Funds for that 
                fiscal year as calculated in accordance with a current 
                services baseline.
                    ``(B) Exception.--(i) Subparagraph (A) shall not 
                apply to the extent that a violation of such 
                subparagraph would result from an assumption in the 
                resolution, amendment, or conference report, as 
                applicable, of an increase in outlays or a decrease in 
                revenues and disbursements relative to the baseline 
                underlying that resolution for social security reform 
                legislation for any such fiscal year.
                    ``(ii) If a concurrent resolution on the budget, or 
                an amendment thereto or conference report thereon, 
                would be in violation of subparagraph (A) because of an 
                assumption of an increase in outlays or a decrease in 
                revenue relative to the baseline underlying that 
                resolution for social security reform legislation for 
                any such fiscal year, then that resolution shall 
                include a statement identifying any such increase in 
                outlays or decrease in revenues and disbursements.
            ``(2) Spending and tax legislation.--
                    ``(A) In general.--It shall not be in order in the 
                House of Representatives or the Senate to consider any 
                bill, joint resolution, amendment, motion, or 
                conference report if--
                            ``(i) the enactment of that bill or 
                        resolution, as reported;
                            ``(ii) the adoption and enactment of that 
                        amendment; or
                            ``(iii) the enactment of that bill or 
                        resolution in the form recommended in that 
                        conference report,
                would cause the totals for any fiscal year covered by 
                the most recently agreed to concurrent resolution on 
                the budget with respect to the Social Security Trust 
                Funds to be less than the totals of the Social Security 
                Trust Funds for that fiscal year as calculated in 
                accordance with the current services baseline.
                    ``(B) Exception.--Subparagraph (A) shall not apply 
                to social security reform legislation.
    ``(b) Enforcement.--For purposes of enforcing any point of order 
under subsection (a), the totals of the Social Security Trust Funds for 
a fiscal year shall be the levels set forth in the later of the report 
accompanying the concurrent resolution on the budget (or, in the 
absence of such a report, placed in the Congressional Record prior to 
the consideration of such resolution) or in the joint explanatory 
statement of managers accompanying such resolution.
    ``(c) Additional Content of Reports Accompanying Budget Resolutions 
and of Joint Explanatory Statements.--The report accompanying any 
concurrent resolution on the budget and the joint explanatory statement 
accompanying the conference report on each such resolution shall 
include the levels of the totals in the budget for each fiscal year set 
forth in such resolution and of the revenues and disbursements in the 
Social Security Trust Funds.
    ``(d) Definitions.--As used in this section, the term `social 
security reform legislation' means a bill or a joint resolution to save 
social security that includes a provision stating the following: `For 
purposes of section 316(a) of the Congressional Budget Act of 1974, 
this Act constitutes social security reform legislation.'.
    ``(e) Waiver and Appeal.--Subsection (a) may be waived or suspended 
in the Senate only by an affirmative vote of three-fifths of the 
Members, duly chosen and sworn. An affirmative vote of three-fifths of 
the Members of the Senate, duly chosen and sworn, shall be required in 
the Senate to sustain an appeal of the ruling of the Chair on a point 
of order raised under this section.
    ``(f) Effective Date.--This section shall cease to have any force 
or effect upon the enactment of social security reform legislation.''.
    (b) Conforming Amendment.--The table of contents set forth in 
section 1(b) of the Congressional Budget and Impoundment Control Act of 
1974 is amended by adding after the item for section 315 the following:

``Sec. 316. Lock-box for social security''.

SEC. 4. PRESIDENT'S BUDGET.

    (a) Protection of Social Security.--If the budget of the United 
States Government submitted by the President under section 1105(a) of 
title 31, United States Code, recommends totals for any fiscal year 
with respect to the Social Security Trust Funds that are less than the 
totals of the Social Security Trust Funds for that fiscal year as 
calculated in accordance with current services baseline, then it shall 
include a detailed proposal for social security reform legislation.
    (b) Effective Date.--Subsection (a) shall cease to have any force 
or effect upon the enactment of social security reform legislation as 
defined by section 316(d) of the Congressional Budget Act of 1974.
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