To amend the Congressional Budget and Impoundment Control Act of 1974 to exclude receipts and disbursements of the social security trust funds from the calculation of Federal deficits and maximum deficit amounts under the Balanced Budget and Emergency Deficit Control Act of 1985.

Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning with FY 1990, Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund receipts and outlays in Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

 
HR 378 IH
101st CONGRESS
1st Session
 H. R. 378
To amend the Congressional Budget and Impoundment Control Act of 1974 to
exclude receipts and disbursements of the social security trust funds from
the calculation of Federal deficits and maximum deficit amounts under the
Balanced Budget and Emergency Deficit Control Act of 1985.
IN THE HOUSE OF REPRESENTATIVES
January 3, 1989
Mr. SOLOMON introduced the following bill; which was referred to the Committee
on Government Operations
A BILL
To amend the Congressional Budget and Impoundment Control Act of 1974 to
exclude receipts and disbursements of the social security trust funds from
the calculation of Federal deficits and maximum deficit amounts under the
Balanced Budget and Emergency Deficit Control Act of 1985.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. EXCLUSION OF RECEIPTS AND DISBURSEMENTS OF SOCIAL SECURITY TRUST
FUNDS WHEN CALCULATING MAXIMUM DEFICIT AMOUNTS.
  (a) DEFINITION OF DEFICIT- (1) The second sentence of paragraph (6) of
  section 3 of the Congressional Budget and Impoundment Control Act of 1974
  (2 U.S.C. 622(6)) is repealed.
  (2) Section 275(b)(2)(A) of the Balanced Budget and Emergency Deficit
  Control Act of 1985 (2 U.S.C. 901 note) is amended by striking out `and the
  second sentence of section 3(6) of such Act (as added by section 201(a)(1)
  of this joint resolution)'.
  (b) EFFECTIVE DATE- The amendments made by subsection (a) shall apply with
  respect to fiscal years beginning after September 30, 1989.