Social Security and Medicare Surplus Protection Act of 2000

Social Security and Medicare Surplus Protection Act of 2000 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require a sequestration to eliminate any on-budget deficit (excluding any surplus in the social security trust funds and the Federal Hospital Insurance Trust Fund). Bars the deficit from being subject to adjustment for any purpose.

Requires, in determining rates of pay for service performed in any fiscal year beginning after September 30, 2000, the rate of pay for a Member of Congress to be determined as if the pay adjustment for such year had resulted in a rate equal to the rate that would otherwise have taken effect beginning in such year (if this Act had not been enacted) reduced by the same percentage as any reduction made as a result of the amendment made by this Act.