II 112th CONGRESS 1st Session S. 1364 IN THE SENATE OF THE UNITED STATES July 13, 2011 Mr. Nelson of Florida introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To ensure the timely payment of Social Security benefits in August 2011.

1.

Short title

This Act may be cited as the Social Security Benefit Protection Act.

2.

Timely payment of August 2011 Social Security Benefits

(a)

Guarantee of social security benefit payments

In addition to any other authority provided by law and for the purpose of ensuring that payments to beneficiaries are not barred or delayed, the Secretary of the Treasury may issue under chapter 31 of title 31, United States Code, obligations of the United States in an amount equal to the monthly insurance benefits payable under title II of the Social Security Act in August 2011. (b)

Obligations exempt from public debt limit

(1)

In general

Obligations issued under subsection (a) shall not be taken into account in applying the limitation in section 3101(b) of title 31, United States Code. (2)

Termination of exemption

Paragraph (1) shall cease to apply on the earlier of— (A)the date of the enactment of the first increase in the limitation in section 3101(b) of title 31, United States Code, after the date of the enactment of this Act, or (B)August 31, 2011.