Social Security Surplus Protection Act of 1999

Social Security Surplus Protection Act of 1999 - Amends the Gramm-Rudman-Hollings Act to provide for a sequestration to eliminate any on-budget deficit (excluding any surplus in the social security trust funds). Provides that such deficit shall not be subject to adjustment for any purpose.

[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1693 Referral Instructions Senate (RIS)]







106th CONGRESS
  1st Session
                                S. 1693

  To protect the Social Security surplus by requiring a sequester to 
                         eliminate any deficit.


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                   IN THE SENATE OF THE UNITED STATES

                            October 5, 1999

   Mr. Grams introduced the following bill; which was read twice and 
   referred jointly pursuant to the order of August 4, 1977, to the 
 Committees on the Budget and Governmental Affairs, with instructions 
that if one Committee reports, the other Committee have thirty days to 
                        report or be discharged

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                                 A BILL


 
  To protect the Social Security surplus by requiring a sequester to 
                         eliminate any deficit.

    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 Surplus Protection 
Act of 1999''.

SEC. 2. SEQUESTER TO PROTECT THE SOCIAL SECURITY SURPLUS.

    Section 251 of the Balanced Budget and Emergency Deficit Control 
Act of 1985 (2 U.S.C. 901) is amended by adding at the end the 
following:
    ``(d) Social Security Surplus Protection Sequester.--
            ``(1) In general.--Within 15 calendar days after Congress 
        adjourns to end a session and on the same day as a 
        sequestration (if any) under subsection (a), section 252, and 
        section 253, there shall be a sequestration to eliminate any 
        on-budget deficit (excluding any surplus in the Social Security 
        Trust Funds).
            ``(2) Eliminating deficit.--The sequester required by this 
        subsection shall be applied in accordance with the procedures 
        set forth in subsection (a). The on-budget deficit shall not be 
        subject to adjustment for any purpose.''.
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