This page contains bills sponsored by presidential contenders.
Bill sponsorships indicate the topics that legislators are most interested in, and spend the most time on.
Legislation by 2008 Presidential Candidates: investing surplus Trust Fund in market certificates
Source: Social Security Preservation Act (H.R.219)
OFFICIAL CONGRESSIONAL SUMMARY: To ensure the integrity of the Social Security trust funds by requiring the Managing Trustee to invest the annual surplus of such trust funds in marketable interest-bearing U.S. obligations, and certificates of deposit in institutions insured by the FDIC, and to protect such trust funds from the public debt limit.
SPONSOR'S INTRODUCTORY REMARKS: Rep. PAUL: The Social Security Preservation Act is a rather simple bill which states that all monies raised by the Social Security trust fund will be spent in payments to beneficiaries, with excess receipts invested in interest-bearing certificates of deposit. This will help keep Social Security trust fund monies from being diverted to other programs, as well as allow the fund to grow by providing for investment in interest-bearing instruments.
The Social Security Preservation Act ensures that the government will keep its promises to America's seniors that taxes collected for Social Security will be used for Social Security. When the government taxes Americans to fund Social Security, it promises the American people that the money will be there for them when they retire. Congress has a moral obligation to keep that promise.
The return of massive federal deficits, and the accompanying pressure for massive new raids on the trust fund, make it more important than ever that Congress protect the trust fund from big spending, pork-barrel politics. I call upon all my colleagues, regardless of which proposal for long-term Social Security reform they support, to stand up for America's seniors by cosponsoring the Social Security Preservation Act.
LEGISLATIVE OUTCOME:Referred to House Subcommittee on Social Security; never came to a vote.
Participating counts on VoteMatch question 6.
Question 6: Privatize Social Security
Scores: -2=Strongly oppose; -1=Oppose; 0=neutral; 1=Support; 2=Strongly support.
- Topic: Social Security
- Headline: Invest surplus Trust Fund in market certificates
- Headline 2: Sponsored bill to put Trust Fund into market certificates
- Key for participation codes:
- Sponsorships: p=sponsored; o=co-sponsored; s=signed
- Memberships: c=chair; m=member; e=endorsed; f=profiled; s=scored
- Resolutions: i=introduced; w=wrote; a=adopted
- Cases: w=wrote; j=joined; d=dissented; c=concurred
- Surveys: '+' supports; '-' opposes.
participating in 03-HR0219
participating in 03-HR0219
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Total recorded by OnTheIssues: