Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to permit the Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund to borrow money from the general fund in the U.S. Treasury in any month in which one of the funds fall below 14 percent of the amount of its disbursements for the 12 months preceding the borrowing. Provides for the repayment of such loans.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department.
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