Savings for Seniors Act of 2007
Latest action · Jan 24, 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 19, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Savings for Seniors Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus.
Denies the availability of the balance in the Account for investment by the Managing Trustee.
Establishes in the executive branch of Government a Social Security Investment Commission to study and report to the President and Congress on the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund, other than investment in the form of U.S. obligations resulting in the transfer of Trust Fund assets to the general fund of the Treasury.
Cosponsors 21
Members who signed on, in the order they did. Signatures ran from Jan 19, 2007 to Sep 22, 2008; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Lynn A. Westmoreland | Original | Jan 19, 2007 |
| R-GA | Phil Gingrey | Original | Jan 19, 2007 |
| R-MO | W. Todd Akin | Original | Jan 19, 2007 |
| R-AZ | John B. Shadegg | Feb 14, 2007 | |
| R-TX | Randy Neugebauer | Feb 14, 2007 | |
| R-FL | Ginny Brown-Waite | Feb 28, 2007 | |
| R-PA | Joseph R. Pitts | Mar 15, 2007 | |
| R-VA | Virgil H. Goode Jr. | Mar 15, 2007 | |
| R-GA | Jack Kingston | Jun 27, 2007 | |
| R-TX | Kenny Marchant | Jun 27, 2007 | |
| R-UT | Rob Bishop | Jun 27, 2007 | |
| R-FL | Tom Feeney | Jun 27, 2007 | |
| R-IL | Donald A. Manzullo | Sep 26, 2007 | |
| R-OK | Mary Fallin | Sep 26, 2007 | |
| R-NC | Sue Wilkins Myrick | Sep 26, 2007 | |
| R-AZ | Trent Franks | Sep 26, 2007 | |
| R-CO | Doug Lamborn | Oct 4, 2007 | |
| R-GA | Tom Price | Feb 6, 2008 | |
| R-PA | Phil English | Mar 11, 2008 | |
| R-MN | Michele Bachmann | Jun 17, 2008 | |
| R-MI | Thaddeus G. McCotter | Sep 22, 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 19, 2007 |
| Social Security Subcommittee | Referred Jan 24, 2007 |
Actions 3
Everything that happened, newest first.
- Jan 24, 2007Referred to the Subcommittee on Social Security.
- Jan 19, 2007Introduced in House
- Jan 19, 2007Referred to the House Committee on Ways and Means.
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 establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund.
- Short Titles as Introduced
- Savings for Seniors Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Social Welfare.
- Budget surpluses
- Congress
- Congressional reporting requirements
- Economics and Public Finance
- Federal advisory bodies
- Finance and Financial Sector
- Government Operations and Politics
- Government trust funds
- Governmental investigations
- Investment of public funds
- Investments
- Legislation
- Old age, survivors and disability insurance
- Social security finance
- Social Welfare
Text 1
Each version as it was printed, newest first.
- Jan 19, 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.
