To guarantee the continuing full investment of Social Security and other Federal funds in obligations of the United States.
Authorizes the Secretary of the Treasury to issue to each Federal fund U.S. obligations, under the public debt provisions of the U.S. Code, before March 30, 1996, in an amount not to exceed the sum of: (1) the amounts deposited in such fund on or after the earlier of the date the Secretary would not otherwise be able to issue such obligations to such fund, or March 15, 1996, and before March 30, 1996; and (2) the face amount of obligations held by such fund which mature during such period.
Exempts such obligations from the public debt limit until the earlier of: (1) the date of enactment of the first increase in the public debt limit after enactment of this Act; or (2) March 30, 1996.
Amends Public Law 104-103 to extend from March 15, 1996, to March 30, 1996, the Secretary's authority to issue U.S. obligations in an amount equal to the monthly insurance benefits payable under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act in March 1996.
Motion to reconsider laid on the table Agreed to without objection.
Rule provides for consideration of H.R. 3021 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The amendment printed in the report of the Committee on Rules accompanying this resolution shall be considered as adopted. Measure will be considered read. Bill is closed to amendments.
Pursuant to the provisions of H. Res. 371, the amendment printed in the report of the Committee on Rules accompanying the resolution was considered as adopted.
DEBATE - The House proceeded with one hour of debate.
The previous question was ordered pursuant to the rule.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 362 - 51 (Roll no. 48).
Roll Call #48 (House)On passage Passed by the Yeas and Nays: 362 - 51 (Roll no. 48).
Roll Call #48 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate, read twice.
Measure laid before Senate. (consideration: CR S1624-1630)
Enacted as Public Law 104-115
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Amendment SP 3465 proposed by Senator Moynihan.
Amendment SP 3465 not agreed to in Senate by Yea-Nay Vote. 43-47. Record Vote No: 24.
Roll Call #24 (Senate)Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Passed Senate without amendment by Voice Vote.
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 104-115.
Became Public Law No: 104-115.