One Social Security Act
This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to merge the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a new, restructured Social Security Trust Fund to consist of the employment and self-employment taxes imposed with respect to wages and self-employment income.
The annual report to Congress on the operation and status of the Trust Fund shall include an actuarial analysis of the benefit cost with respect to disabled beneficiaries and their auxiliaries, to retired beneficiaries and their auxiliaries, and to survivor beneficiaries.
[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>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1100-1101)
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Social Security.
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