[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3150 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 3150

 To amend title II of the Social Security Act to merge the Federal Old-
   Age and Survivors Insurance Trust Fund and the Federal Disability 
             Insurance Trust Fund, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 22, 2015

  Mr. Becerra (for himself, Mr. Brendan F. Boyle of Pennsylvania, Ms. 
     Judy Chu of California, Ms. Lee, Mr. Pocan, Mr. Langevin, Mr. 
 Blumenauer, Mr. Doggett, Mr. Crowley, Mr. Danny K. Davis of Illinois, 
  Mr. Rangel, Ms. Linda T. Sanchez of California, Mr. McDermott, Mr. 
 Lewis, Mr. Neal, Mr. Thompson of California, Mr. Pascrell, Mr. Larson 
of Connecticut, Ms. Schakowsky, Ms. Matsui, Mr. Cummings, Mr. Grijalva, 
 and Mr. Ellison) introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend title II of the Social Security Act to merge the Federal Old-
   Age and Survivors Insurance Trust Fund and the Federal Disability 
             Insurance Trust Fund, and for other purposes.

    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 ``One Social Security Act''.

SEC. 2. SOCIAL SECURITY TRUST FUND ESTABLISHED.

    Section 201(a) of the Social Security Act (42 U.S.C. 401(a)) is 
amended to read as follows:
    ``(a) There is hereby created on the books of the Treasury of the 
United States a trust fund to be known as the `Social Security Trust 
Fund'. The Social Security Trust Fund shall consist of the securities 
held by the Secretary of the Treasury for the Federal Old-Age and 
Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund and the amount standing to the credit of the Federal Old-Age 
and Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund on the books of the Treasury on January 1, 2016, which 
securities and amount the Secretary of the Treasury is authorized and 
directed to transfer to the Social Security Trust Fund, and, in 
addition, such gifts and bequests as may be made as provided in 
subsection (i)(1), and such amounts as may be appropriated to, or 
deposited in, the Social Security Trust Fund as hereinafter provided. 
There is hereby appropriated to the Social Security Trust Fund for the 
fiscal year ending September 30, 2016, and for each fiscal year 
thereafter, out of any moneys in the Treasury not otherwise 
appropriated, amounts equivalent to 100 percent of--
            ``(1) the taxes imposed by chapter 21 (other than sections 
        3101(b) and 3111(b)) of the Internal Revenue Code of 1986 with 
        respect to wages (as defined in section 3121 of such Code) 
        reported to the Secretary of the Treasury pursuant to subtitle 
        F of the Internal Revenue Code of 1986, as determined by the 
        Secretary of the Treasury by applying the applicable rates of 
        tax under such chapter (other than sections 3101(b) and 
        3111(b)) to such wages, which wages shall be certified by the 
        Commissioner of Social Security on the basis of the records of 
        wages established and maintained by such Commissioner in 
        accordance with such reports; and
            ``(2) the taxes imposed by chapter 2 (other than section 
        1401(b)) of the Internal Revenue Code of 1986 with respect to 
        self-employment income (as defined in section 1402 of such 
        Code) reported to the Secretary of the Treasury on tax returns 
        under subtitle F of such Code, as determined by the Secretary 
        of the Treasury by applying the applicable rate of tax under 
        such chapter (other than section 1401(b)) to such self-
        employment income, which self-employment income shall be 
        certified by the Commissioner of Social Security on the basis 
        of the records of self-employment income established and 
        maintained by the Commissioner of Social Security in accordance 
        with such returns.
The amounts appropriated by paragraphs (1) and (2) shall be transferred 
from time to time from the general fund in the Treasury to the Social 
Security Trust Fund, such amounts to be determined on the basis of 
estimates by the Secretary of the Treasury of the taxes, specified in 
paragraphs (1) and (2), paid to or deposited into the Treasury; and 
proper adjustments shall be made in amounts subsequently transferred to 
the extent prior estimates were in excess of or were less than the 
taxes specified in such paragraphs (1) and (2). All amounts transferred 
to the Social Security Trust Fund under the preceding sentence shall be 
invested by the Managing Trustee in the same manner and to the same 
extent as the other assets of the Trust Fund. Notwithstanding the 
preceding sentence, in any case in which the Secretary of the Treasury 
determines that the assets of the Trust Fund would otherwise be 
inadequate to meet the Trust Fund's obligations for any month, the 
Secretary of the Treasury shall transfer to the Trust Fund on the first 
day of such month the total amount which would have been transferred to 
the Trust Fund under this section as in effect on October 1, 1990; and 
the Trust Fund shall pay interest to the general fund on the amount so 
transferred on the first day of any month at a rate (calculated on a 
daily basis, and applied against the difference between the amount so 
transferred on such first day and the amount which would have been 
transferred to the Trust Fund up to that day under the procedures in 
effect on January 1, 1983) equal to the rate earned by the investments 
of the Trust Fund in the same month under subsection (d).''.

SEC. 3. REQUIRED ACTUARIAL ANALYSIS.

    Section 201(c) of the Social Security Act is amended by striking 
the fourth sentence in the matter following paragraph (5) and inserting 
the following: ``Such report shall also include actuarial analysis of 
the benefit cost with respect to disabled beneficiaries and their 
auxiliaries, to retired beneficiaries and their auxiliaries, and to 
survivor beneficiaries.''.

SEC. 4. BOARD OF TRUSTEES.

    (a) Board of Trustees of Social Security Trust Fund.--Section 
201(c) of the Social Security Act, as amended by section 3, is further 
amended in the matter preceding paragraph (1) by striking ``the Federal 
Old-Age and Survivors Insurance Trust Fund and the Federal Disability 
Insurance Trust Fund (hereinafter in this title called the `Trust 
Funds')'' and inserting ``the Social Security Trust Fund (in this title 
referred to as the `Trust Fund')''.
    (b) Continuity of Board of Trustees.--The Board of Trustees of the 
Social Security Trust Fund created by the amendment made by section (2) 
shall be a continuous body with the Board of Trustees of the Federal 
Old-Age and Survivors Insurance Trust Fund and the Federal Disability 
Insurance Trust Fund in operation prior to the effective date of such 
amendment. Individuals serving as members of the Board of Trustees of 
the Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
Disability Insurance Trust Fund as of the effective date of such 
amendment shall serve the remainder of their term as members of the 
Board of Trustees of the Social Security Trust Fund.

SEC. 5. CONFORMING AMENDMENTS RELATED TO SOCIAL SECURITY TRUST FUND.

    (a) Amendment to Section Heading.--The section heading for section 
201 of the Social Security Act is amended to read as follows: ``Social 
Security Trust Fund''.
    (b) Board of Trustees.--Section 201(c) of such Act, as amended by 
sections 3 and 4(a), is further amended--
            (1) in the matter preceding paragraph (1), by striking 
        ``Board of Trustees of the Trust Funds'' and inserting ``Board 
        of Trustees of the Trust Fund'';
            (2) in paragraph (1), by striking ``Trust Funds'' and 
        inserting ``Trust Fund'';
            (3) in paragraph (2)--
                    (A) by striking ``Trust Funds'' and inserting 
                ``Trust Fund''; and
                    (B) by striking ``their'' and inserting ``its'';
            (4) in paragraph (3), by striking ``either of the Trust 
        Funds'' and inserting ``the Trust Fund'';
            (5) in paragraph (5)--
                    (A) by striking ``managing the Trust Funds'' and 
                inserting ``managing the Trust Fund''; and
                    (B) by striking ``Trust Funds are'' and inserting 
                ``Trust Fund is'';
            (6) in the matter following paragraph (5), by striking 
        ``Trust Funds'' each place it appears and inserting ``Trust 
        Fund''; and
            (7) in the second sentence in the matter following 
        paragraph (5), by striking ``whether the Federal Old-Age and 
        Survivors Insurance Trust Fund and the Federal Disability 
        Insurance Trust Fund, individually and collectively, are'' and 
        inserting ``whether the Social Security Trust Fund is''.
    (c) Investments.--Section 201 of such Act is amended in subsections 
(d) and (e) by striking ``Trust Funds'' each place it appears and 
inserting ``Trust Fund''.
    (d) Crediting of Interest and Proceeds to Trust Funds.--Section 
201(f) of such Act is amended--
            (1) by striking ``the Federal Old-Age and Survivors 
        Insurance Trust Fund and the Federal Disability Insurance Trust 
        Fund shall be credited to and form a part of the Federal Old-
        Age and Survivors Insurance Trust Fund and the Disability 
        Insurance Trust Fund, respectively'' and inserting ``the Social 
        Security Trust Fund shall be credited to and form a part of the 
        Social Security Trust Fund'';
            (2) by striking ``either of the Trust Funds'' and inserting 
        ``the Trust Fund''; and
            (3) by striking ``such Trust Fund'' and inserting ``the 
        Trust Fund''.
    (e) Administrative Costs.--Section 201(g) of such Act is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (A), by striking ``Of the 
                amounts authorized to be made available out of the 
                Federal Old-Age and Survivors Insurance Trust Fund and 
                the Federal Disability Insurance Trust Fund under the 
                preceding sentence'' and all that follows through 
                ``(Public Law 103-296).'';
                    (B) in subparagraph (B)(i)--
                            (i) by striking subclauses (II) and (III) 
                        and inserting the following:
                    ``(II) the portion of such costs which should have 
                been borne by the Social Security Trust Fund,''; and
                            (ii) by redesignating subclauses (IV) and 
                        (V) as subclauses (III) and (IV);
            (2) in paragraph (2)--
                    (A) by striking ``Trust Funds'' and inserting 
                ``Trust Fund''; and
                    (B) by striking the last sentence; and
            (3) in paragraph (4), by striking ``Trust Funds'' each 
        place it appears and inserting ``Trust Fund''.
    (f) Benefit Payments.--Section 201(h) of such Act is amended to 
read as follows:
    ``(h) All benefit payments required to be made under this title 
shall be made only from the Social Security Trust Fund.''.
    (g) Gifts.--Section 201(i) of such Act is amended--
            (1) in paragraph (1), by striking ``the Federal Old-Age and 
        Survivors Insurance Trust Fund, the Federal Disability 
        Insurance Trust Fund'' and inserting ``the Social Security 
        Trust Fund''; and
            (2) in paragraph (2), by striking ``the Federal Old-Age and 
        Survivors Insurance Trust Fund'' and inserting ``the Social 
        Security Trust Fund''.
    (h) Travel Expenses.--Section 201(j) of such Act is amended by 
striking ``the Federal Old-Age and Survivors Insurance Trust Fund, or 
the Federal Disability Insurance Trust Fund (as determined appropriate 
by the Commissioner of Social Security)'' and inserting ``the Social 
Security Trust Fund''.
    (i) Demonstration Projects.--Section 201(k) of such Act is amended 
by striking ``the Federal Disability Insurance Trust Fund and the 
Federal Old-Age and Survivors Insurance Trust Fund, as determined 
appropriate by the Commissioner of Social Security'' and inserting 
``the Social Security Trust Fund''.
    (j) Benefit Checks.--Section 201(m) of such Act is amended--
            (1) in paragraph (2), by striking ``each of the Trust 
        Funds'' and inserting ``the Social Security Trust Fund'';
            (2) in paragraph (3), by striking ``one of the Trust 
        Funds'' and inserting ``the Trust Fund''; and
            (3) by striking ``such Trust Fund'' each place it appears 
        and inserting ``the Trust Fund''.
    (k) Conforming Repeals.--
            (1) In general.--Section 201 of such Act is amended by 
        striking subsections (b), (l), and (n).
            (2) Redesignations.--Section 201 of such Act is further 
        amended--
                    (A) by redesignating subsections (c) through (j) as 
                subsections (b) through (i), respectively;
                    (B) by redesignating subsection (k) as subsection 
                (j); and
                    (C) by redesignating subsection (m) as subsection 
                (k).
            (3) References to redesignated sections.--
                    (A) Section 201(a) of such Act, as amended by 
                section 2, is further amended--
                            (i) by striking ``subsection (i)(1)'' and 
                        inserting ``subsection (h)(1)''; and
                            (ii) by striking ``subsection (d)'' and 
                        inserting ``subsection (c)''.
                    (B) Section 1131(b)(1) of such Act is amended by 
                striking ``section 201(g)(1)'' and inserting ``section 
                201(f)(1)''.

SEC. 6. OTHER CONFORMING AMENDMENTS TO SOCIAL SECURITY ACT.

    (a) Title II.--Title II of the Social Security Act (42 U.S.C. 401 
et seq.) is amended--
            (1) in section 202(x)(3)(B)(iii), by striking ``the Federal 
        Old-Age and Survivors Insurance Trust Fund and the Federal 
        Disability Insurance Trust Fund, as appropriate,'' and 
        inserting ``the Social Security Trust Fund'';
            (2) in section 206(d)(5), by striking ``the Federal Old-Age 
        and Survivors Insurance Trust Fund and the Federal Disability 
        Insurance Trust Fund, as appropriate'' and inserting ``the 
        Social Security Trust Fund'';
            (3) in section 206(e)(3)(B), by striking ``the Federal Old-
        Age and Survivors Insurance Trust Fund and the Federal 
        Disability Insurance Trust Fund'' and inserting ``the Social 
        Security Trust Fund'';
            (4) in section 208(b)(5)(A), by striking ``the Federal Old-
        Age and Survivors Insurance Trust Fund and the Federal 
        Disability Insurance Trust Fund, as appropriate'' and inserting 
        ``the Social Security Trust Fund'';
            (5) in section 215(i)(1)(F)--
                    (A) in clause (i)--
                            (i) by striking ``the combined balance in 
                        the Federal Old-Age and Survivors Insurance 
                        Trust Fund and the Federal Disability Insurance 
                        Trust Fund'' and inserting ``the balance in the 
                        Social Security Trust Fund''; and
                            (ii) by striking ``and reduced by the 
                        outstanding amount of any loan (including 
                        interest thereon) theretofore made to either 
                        such Fund from the Federal Hospital Insurance 
                        Trust Fund under section 201(l)''; and
                    (B) in clause (ii)--
                            (i) by striking ``the Federal Old-Age and 
                        Survivors Insurance Trust Fund and the Federal 
                        Disability Insurance Trust Fund'' and inserting 
                        ``the Social Security Trust Fund''; and
                            (ii) by striking ``(other than payments'' 
                        and all that follows through ``from that 
                        Account'';
            (6) in section 217(g)(2), by inserting after the first 
        sentence the following: ``For purposes of any such revision of 
        the amount determined under paragraph (1) that occurs in a year 
        after 2015, any reference in such paragraph to the Federal Old-
        Age and Survivors Insurance Trust Fund or the Federal 
        Disability Insurance Trust Fund shall be deemed to be a 
        reference to the Social Security Trust Fund.'';
            (7) in section 221(e)--
                    (A) by striking ``Trust Funds'' each place it 
                appears and inserting ``Trust Fund''; and
                    (B) by striking the last sentence;
            (8) in section 221(f), by striking ``Trust Funds'' and 
        inserting ``Trust Fund'';
            (9) in section 222(d)--
                    (A) in the section heading, by striking ``Trust 
                Funds'' and inserting ``Trust Fund'';
                    (B) in paragraph (1), by striking ``to the end that 
                savings will accrue to the Trust Funds as a result of 
                rehabilitating such individuals, there are authorized 
                to be transferred from the Federal Old-Age and 
                Survivors Insurance Trust Fund and the Federal 
                Disability Insurance Trust Fund'' and inserting ``to 
                the end that savings will accrue to the Trust Fund as a 
                result of rehabilitating such individuals, there are 
                authorized to be transferred from the Social Security 
                Trust Fund''; and
                    (C) by amending paragraph (4) to read as follows:
    ``(4) The Commissioner of Social Security shall determine according 
to such methods and procedures as the Commissioner may deem appropriate 
the total amount to be reimbursed for the cost of services under this 
subsection.'';
            (10) in section 228(g)--
                    (A) in the section heading, by striking ``Federal 
                Old-Age and Survivors Insurance Trust Fund'' and 
                inserting ``Social Security Trust Fund''; and
                    (B) in the matter preceding paragraph (1), by 
                striking ``Federal Old-Age and Survivors Insurance 
                Trust Fund'' and inserting ``Social Security Trust 
                Fund'';
            (11) in section 231(c), by striking ``Trust Funds'' each 
        place it appears and inserting ``Trust Fund''; and
            (12) in section 234(a)(1), by striking ``Trust Funds'' and 
        inserting ``Trust Fund''.
    (b) Title VII.--Title VII of the Social Security Act (42 U.S.C. 901 
et seq.) is amended--
            (1) in section 703(j), by striking ``Federal Disability 
        Insurance Trust Fund, the Federal Old-Age and Survivors 
        Insurance Trust Fund,'' and inserting ``Social Security Trust 
        Fund'';
            (2) in section 708, by striking ``the `OASDI trust fund 
        ratio' under section 201(l),'' after ``computing'';
            (3) in section 709--
                    (A) in subsection (a), by striking ``Federal Old-
                Age and Survivors Insurance Trust Fund and the Federal 
                Disability Insurance Trust Fund'' and inserting 
                ``Social Security Trust Fund''; and
                    (B) in subsection (b)--
                            (i) in paragraph (1), by striking ``section 
                        201(l) or''; and
                            (ii) in paragraph (2), by striking 
                        ``Federal Old-Age and Survivors Insurance Trust 
                        Fund and the Federal Disability Insurance Trust 
                        Fund'' and inserting ``Social Security Trust 
                        Fund''; and
            (4) in section 710--
                    (A) in subsection (a), by striking ``Federal Old-
                Age and Survivors Insurance Trust Fund and the Federal 
                Disability Insurance Trust Fund'' and inserting 
                ``Social Security Trust Fund''; and
                    (B) in subsection (b)--
                            (i) by striking ``any Trust Fund specified 
                        in subsection (a)'' and inserting ``the Social 
                        Security Trust Fund''; and
                            (ii) by striking ``payments from any such 
                        Trust Fund'' and inserting ``payments from the 
                        Social Security Trust Fund''.
    (c) Title XI.--Title XI of the Social Security Act (42 U.S.C. 1301 
et seq.) is amended--
            (1) in section 1106(b), by striking ``the Federal Old-Age 
        and Survivors Insurance Trust Fund, the Federal Disability 
        Insurance Trust Fund'' and inserting ``the Social Security 
        Trust Fund'';
            (2) in section 1129(e)(2)(A), by striking ``the Federal 
        Old-Age and Survivors Insurance Trust Fund or the Federal 
        Disability Insurance Trust Fund, as determined appropriate by 
        the Secretary'' and inserting ``the Social Security Trust 
        Fund'';
            (3) in sections 1131(b)(2) and 1140(c)(2), by striking 
        ``the Federal Old-Age and Survivors Insurance Trust Fund'' and 
        inserting ``the Social Security Trust Fund'';
            (4) in section 1145(c)--
                    (A) by striking paragraphs (1) and (2) and 
                inserting the following:
            ``(1) the Social Security Trust Fund;''; and
                    (B) by redesignating paragraphs (3) and (4) as 
                paragraphs (2) and (3), respectively; and
            (5) in section 1148(j)(1)(A)--
                    (A) in the first sentence, by striking ``the 
                Federal Old-Age and Survivors Insurance Trust Fund and 
                the Federal Disability Insurance Trust Fund'' and 
                inserting ``the Social Security Trust Fund''; and
                    (B) by striking the second sentence.
    (d) Title XVIII.--Title XVIII of the Social Security Act (42 U.S.C. 
1395) is amended--
            (1) in section 1817(g), by striking ``Federal Old-Age and 
        Survivors Insurance Trust Fund and from the Federal Disability 
        Insurance Trust Fund'' and inserting ``Social Security Trust 
        Fund'';
            (2) in section 1840(a)(2), by striking ``Federal Old-Age 
        and Survivors Insurance Trust Fund or the Federal Disability 
        Insurance Trust Fund'' and inserting ``Social Security Trust 
        Fund''; and
            (3) in section 1841(f), by striking ``Federal Old-Age and 
        Survivors Insurance Trust Fund and from the Federal Disability 
        Insurance Trust Fund'' and inserting ``Social Security Trust 
        Fund''.

SEC. 7. CONFORMING AMENDMENTS OUTSIDE OF SOCIAL SECURITY ACT.

    (a) Budget.--
            (1) Off-budget exemption.--Section 405(a) of the 
        Congressional Budget Act of 1974 (2 U.S.C. 655(a)) is amended 
        by striking ``Federal Old-Age and Survivors Insurance and 
        Federal Disability Insurance Trust Funds'' and inserting 
        ``Social Security Trust Fund''.
            (2) Sequestration exemption.--Section 255(g)(1)(A) of the 
        Balanced Budget and Emergency Deficit Control Act of 1985 (2 
        U.S.C. 905(g)(1)(A)) is amended by striking ``Payments to 
        Social Security Trust Funds'' and inserting ``Payments to the 
        Social Security Trust Fund''.
    (b) Tax.--
            (1) Taxable wages.--Section 3121(l)(4) of the Internal 
        Revenue Code of 1986 is amended by striking ``Federal Old-Age 
        and Survivors Insurance Trust Fund and the Federal Disability 
        Insurance Trust Fund'' and inserting ``Social Security Trust 
        Fund''.
            (2) Overpayments.--
                    (A) Section 6402(d)(3)(C) of the Internal Revenue 
                Code of 1986 is amended by striking ``Federal Old-Age 
                and Survivors Insurance Trust Fund or the Federal 
                Disability Insurance Trust Fund, whichever is certified 
                to the Secretary as appropriate by the Commissioner of 
                Social Security'' and inserting ``Social Security Trust 
                Fund''.
                    (B) Subsection (f)(2)(B) of section 3720A, United 
                States Code, is amended by striking ``Federal Old-Age 
                and Survivors Insurance Trust Fund or the Federal 
                Disability Insurance Trust Fund, whichever is certified 
                to the Secretary of the Treasury as appropriate by the 
                Commissioner of Social Security'' and inserting 
                ``Social Security Trust Fund''.
    (c) False Claims Penalties.--Subsection (g)(2) of section 3806 of 
title 31, United States Code, is amended--
            (1) in subparagraph (B)--
                    (A) by striking ``Secretary of Health and Human 
                Services'' and inserting ``Commissioner of Social 
                Security''; and
                    (B) by striking ``Federal Old-Age and Survivors 
                Insurance Trust Fund'' and inserting ``Social Security 
                Trust Fund''; and
            (2) in subparagraph (C)--
                    (A) by striking ``Secretary of Health and Human 
                Services'' and inserting ``Commissioner of Social 
                Security''; and
                    (B) by striking ``Federal Disability Insurance 
                Trust Fund'' and inserting ``Social Security Trust 
                Fund''.
    (d) Railroad Retirement Board.--Section 7 of the Railroad 
Retirement Act of 1974 (45 U.S.C. 231f) is amended--
            (1) in subsection (b)(2), by striking ``Federal Old-Age and 
        Survivors Insurance Trust Fund and the Federal Disability 
        Insurance Trust Fund'' and inserting ``Social Security Trust 
        Fund'';
            (2) in subsection (c)(2)--
                    (A) by striking ``Secretary of Health, Education, 
                and Welfare'' each time it appears and inserting 
                ``Commissioner of Social Security''; and
                    (B) by striking ``Federal Old-Age and Survivors 
                Insurance Trust Fund, the Federal Disability Insurance 
                Trust Fund,'' each time it appears and inserting 
                ``Social Security Trust Fund''; and
            (3) in subsection (c)(4), by striking ``Federal Old-Age and 
        Survivors Insurance Trust Fund, the Federal Disability 
        Insurance Trust Fund,'' and inserting ``Social Security Trust 
        Fund''.

SEC. 8. RULE OF CONSTRUCTION.

    Effective beginning January 1, 2016, any reference in law to the 
``Federal Old-Age and Survivors Insurance Trust Fund'' or the ``Federal 
Disability Insurance Trust Fund'' is deemed to be a reference to the 
Social Security Trust Fund.

SEC. 9. EFFECTIVE DATE.

    The amendments made by this Act shall take effect on January 1, 
2016.
                                 <all>