Social Security Truth in Budgeting Act of 2005

Social Security Truth in Budgeting Act of 2005 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security trust funds) from being included in the Federal budget baseline for any fiscal year and from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of offsetting any tax decrease or spending increase. Excludes Social Security trust fund receipts and disbursements totals from official Office of Management and Budget and Congressional Budget Office budget pronouncements.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 653 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 653

    To amend title II of the Social Security Act to ensure that the 
 receipts and disbursements of the Social Security trust funds are not 
                 included in a unified Federal budget.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 8, 2005

Mr. Moore of Kansas (for himself, Mr. Holden, Mr. Edwards, Mr. Moran of 
 Virginia, Mr. Scott of Virginia, Mr. Case, Mr. Baird, Mr. Cooper, Mr. 
 Ford, Mr. Berry, Ms. Wasserman Schultz, Mr. Cuellar, and Mr. Israel) 
 introduced the following bill; which was referred to the Committee on 
 the Budget, and in addition to the Committee on Ways and Means, for a 
 period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
    To amend title II of the Social Security Act to ensure that the 
 receipts and disbursements of the Social Security trust funds are not 
                 included in a unified Federal budget.

    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 ``Social Security Truth in Budgeting 
Act of 2005''.

SEC. 2. EXCLUSION OF THE SOCIAL SECURITY TRUST FUNDS FROM THE UNIFIED 
              FEDERAL BUDGET.

    Section 201 of the Social Security Act (42 U.S.C. 401) is amended 
by adding at the end the following new subsection:
    ``(o)(1) The receipts and disbursements of the Federal Old-Age and 
Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund (including taxes upon which any such receipts are based)--
            ``(A) shall not be included in the Federal budget baseline 
        for any fiscal year, and
            ``(B) shall not be counted as new budget authority, 
        outlays, receipts, or deficit or surplus for purposes of--
                    ``(i) offsetting any tax decrease, or
                    ``(ii) offsetting any spending increase.
    ``(2) Any official statement issued by the Office of Management and 
Budget or by the Congressional Budget Office of surplus or deficit 
totals of the budget of the United States Government as submitted by 
the President or of the surplus or deficit totals of the congressional 
budget, and any description of, or reference to, such totals in any 
official publication or material issued by either of such Offices, 
shall exclude the receipts and disbursements totals of the Federal Old-
Age and Survivors Insurance Trust Fund and the Federal Disability 
Insurance Trust Fund (including taxes upon which any such receipts are 
based).''.

SEC. 3. EFFECTIVE DATE.

    The amendment made by this Act shall apply to fiscal years 
beginning on or after October 1, 2005.
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