Personal Social Security Account Act of 2000
Latest action. Referred to the House Committee on Ways and Means.
Personal Social Security Account Act of 2000 - Title I: Personal Social Security Accounts - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to create a new OASDI part B (Personal Social Security Accounts) program similar to the Thrift Savings Program for Federal employees for eligible individuals. Directs the Commissioner of Social Security to establish in the Personal Social Security Account Fund, which this Act establishes, a personal social security account for each eligible individual: (1) born after December 31, 1945; (2) credited for any calendar year with four quarters of coverage; and (3) who has requested such an account. Provides for: (1) deposit in such accounts of specified percentages of an individual's annual income, as well as transfers from the Social Security trust funds; (2) investment of account amounts; and (3) distribution of account balances, in either a lump sum or equal annual installments, when the account holder reaches the old-age insurance entitlement age. Title II: Maintaining the Solvency of the Old-Age, Survivors, and Disability Insurance Program - Amends SSA title II to provide for: (1) modification of indexing initial old-age or disability insurance benefits; (2) reduction of such benefits by reason of a transfer to an eligible individual's personal Social Security account; and (3) borrowing authority for the Social Security trust funds taking into account the present value of future benefit reductions.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on December 14, 2000. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on December 14, 2000: Referred to the House Committee on Ways and Means.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 106th Congress (1999-00), 580 of the 9,158 bills and joint resolutions introduced became law, about 6.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JOHN KASICH (R-OH) introduced it on December 14, 2000. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on December 14, 2000, 9401 days ago. The most recent recorded action was 9401 days ago, on December 14, 2000.
Measures do not carry over. Anything the 106th Congress has not finished by January 3, 2001 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers