Truth in Budgeting and Social Security Protection Act of 2003
Latest action · Mar 21, 2003 Read twice and referred jointly to the Committees on the Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged. (text of measure as introduced: CR S4288-4295)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 21, 2003
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Congressional Budget Act of 1974 (CBA) to require: (1) proposed legislation to contain a projection by the Congressional Budget Office (CBO) of the cost of debt servicing for measures; (2) conference reports to contain amounts allocated to the Committee on Appropriations subcommittees; and (3) the CBO to report on proposed legislation or conference reports by any committee that contain cost riders that are likely to increase the cost path of a measure.
Requires the President to report to specified congressional committees in January of each year on the fiscal exposures of the Federal Government and their implications for long-term financial health.
Federal Insurance Budgeting Act of 2003 - Requires that, starting FY 2008, the President's budget submitted to Congress be based upon the risk-assumed cost of Federal insurance programs for accrual budgeting purposes. Amends cost requirements of Federal insurance programs.
Requires agencies that are responsible for Federal insurance programs to develop models to estimate their risk-assumed cost by year.
Amends CBA to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriations cycle and timetable. Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year.
Establishes and defines the duties of the Commission on Federal Budget Concepts.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 21, 2003.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-WI | Russell D. Feingold | Original | Mar 21, 2003 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Homeland Security and Governmental Affairs Committee | Referred Mar 21, 2003 |
| Senate | Budget Committee | Referred Mar 21, 2003 |
Actions 2
Everything that happened, newest first.
- Mar 21, 2003Introduced in Senate
- Mar 21, 2003Read twice and referred jointly to the Committees on the Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged. (text of measure as introduced: CR S4288-4295)
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Text printed S4288–S4295 | George V. Voinovich R-OH (text) | Mar 21, 2003 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to balance the budget and protect the Social Security Trust Fund surpluses.
- Short Titles as Introduced
- Truth in Budgeting and Social Security Protection Act of 2003
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
- Accounting
- Appropriations
- Auditing
- Authorization
- Biennial budgets
- Budget reconciliation
- Budget resolutions
- Capital budgets
- Capital investments
- Congress
- Congressional budget
- Congressional committees (House)
- Congressional committees (Senate)
- Congressional conference committees
- Congressional investigations
- Congressional oversight
- Congressional reporting requirements
- Congressional sessions
- Consultants
- Continuing resolutions
- Economic forecasting
- Economic statistics
- Economics and Public Finance
- Federal budget process
- Federal budgets
- Finance and Financial Sector
- Fiscal year
- Government contractors
- Government insurance
- Government Operations and Politics
- Government service contracts
- Government spending reductions
- Health
- House Appropriations
- House Budget
- House rules and procedure
- Legislation
- Legislative amendments
- Medicare
- Old age, survivors and disability insurance
- Performance measurement
- Planning-programming-budgeting
- Risk
- Senate Appropriations
- Senate Budget
- Senate rules and procedure
- Social security finance
- Social Welfare
- Strategic planning
Text 1
Each version as it was printed, newest first.
- Mar 21, 2003Referral Instructions Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.