Social Security Preservation Act of 2007
Latest action · Jan 18, 2007 Referred to the Subcommittee on Social Security.
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.
- IntroducedJan 4, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Social Security Preservation Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security Trust Funds) to ensure that the annual surplus of the Social Security Trust Funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates of deposit in insured depository institutions. Outlines requirements for determining the annual surplus of the Trust Funds.
Prohibits disinvestment of Social Security Trust Fund amounts from public debt obligations, any refraining from making such investments, or any delay in making normal deposits in such Trust Funds for public debt limit-related purposes. Authorizes, with certain conditions, the sale of Social Security Trust Fund public debt obligations for the payment of cash benefits and administrative expenses.
Cosponsors 23
Members who signed on, in the order they did. Signatures ran from Jan 4, 2007 to Sep 29, 2008; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Jeff Miller | Original | Jan 4, 2007 |
| R-FL | John L. Mica | Original | Jan 4, 2007 |
| R-OH | Steve Chabot | Original | Jan 4, 2007 |
| R-OK | Tom Cole | Feb 8, 2007 | |
| R-PA | Jim Gerlach | Apr 17, 2007 | |
| R-CO | Thomas G. Tancredo | Apr 17, 2007 | |
| D-GA | Jim Marshall | Apr 25, 2007 | |
| R-CO | Marilyn N. Musgrave | Jun 8, 2007 | |
| R-AL | Robert B. Aderholt | Jun 28, 2007 | |
| R-VA | Virgil H. Goode Jr. | Sep 7, 2007 | |
| R-TX | Pete Sessions | Jan 16, 2008 | |
| R-OH | Steven C. LaTourette | Feb 12, 2008 | |
| R-TN | John J. Duncan, Jr. | Feb 19, 2008 | |
| R-NC | Walter B. Jones | May 19, 2008 | |
| R-WA | Cathy McMorris Rodgers | May 22, 2008 | |
| R-AZ | Trent Franks | Jul 10, 2008 | |
| R-FL | Dave Weldon | Jul 31, 2008 | |
| R-TX | Ted Poe | Jul 31, 2008 | |
| R-WI | Thomas E. Petri | Aug 1, 2008 | |
| R-NE | Lee Terry | Sep 10, 2008 | |
| R-IL | Peter J. Roskam | Sep 10, 2008 | |
| R-FL | Tom Feeney | Sep 16, 2008 | |
| R-MN | Michele Bachmann | Sep 29, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jan 4, 2007 |
| Social Security Subcommittee | Referred Jan 18, 2007 |
Actions 4
Everything that happened, newest first.
- Jan 18, 2007Referred to the Subcommittee on Social Security.
- Jan 5, 2007Sponsor introductory remarks on measure. (CR E4)
- Jan 4, 2007Introduced in House
- Jan 4, 2007Referred to the House Committee on Ways and Means.
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.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend title II of the Social Security Act to ensure the integrity of the Social Security trust funds by requiring the Managing Trustee to invest the annual surplus of such trust funds in marketable interest-bearing obligations of the United States and certificates of deposit in depository institutions insured by the Federal Deposit Insurance Corporation, and to protect such trust funds from the public debt limit.
- Short Titles as Introduced
- Social Security Preservation Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Social Welfare.
- Bank deposits
- Budget surpluses
- Congress
- Congressional investigations
- Congressional reporting requirements
- Debt limit
- Economics and Public Finance
- Finance and Financial Sector
- Government securities
- Government trust funds
- Investment of public funds
- Old age, survivors and disability insurance
- Social security finance
- Social Welfare
Text 1
Each version as it was printed, newest first.
- Jan 4, 2007Introduced in House
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.
