A bill to amend the Social Security Act to provide for temporary borrowing authority for the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds.
Latest action. Committee on Finance requested executive comment from Office of Management and BudgetThe President's budget and regulatory control center. It writes the President's budget request, apportions appropriated funds, and reviews significant agency rules.Read the full definition (opens a new tab); Treasury Department; Health and Human Services Department.
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to extend the authorization for interfund borrowing among the social security trust funds (the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund) through 1984. (Currently, interfund borrowing is permitted at any time prior to January 1983.) Permits the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to finance the benefit payments from such trust funds by borrowing money from the general fund of the Treasury at any time before October 1989. Sets the maximum amount which may be borrowed under this Act at $80,000,000,000. Sets forth interest and loan repayment requirements for such loans. Authorizes the Secretary of the Treasury to issue bonds, notes, or other obligations if a loan made under this Act requires an increase in the amount required to be borrowed by the United States to cover its expenditures.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on December 10, 1982. 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, 1982: Committee on Finance requested executive comment from OMB; Treasury Department; Health and Human Services Department.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- 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 97th Congress (1981-82), 473 of the 11,489 bills and joint resolutions introduced became law, about 4.1 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?
PAULA HAWKINS (R-FL) introduced it on December 10, 1982. 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 10, 1982, 16028 days ago. The most recent recorded action was 16024 days ago, on December 14, 1982.
Measures do not carry over. Anything the 97th Congress has not finished by January 3, 1983 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
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers