Bill > HR963

This bill, called the "Protecting Social Security Act," establishes a comprehensive framework for addressing potential insolvency of the Social Security Trust Funds and ensuring continued benefit payments. The bill requires that if either the Old-Age and Survivors Insurance Trust Fund or the Disability Insurance Trust Fund becomes unable to finance benefit payments, the Social Security Administration will automatically receive monthly appropriations to cover the shortfall. In such a scenario, Congress would be required to quickly consider a "Social Security solvency bill" with expedited procedures in both the House and Senate. This solvency bill must ensure full benefits continue for recipients, avoid raising taxes on most individuals, and generate any additional needed funds from ultra-wealthy individuals and corporations. The legislation also mandates that a Social Security field office be established in every county with a population over 150,000 people. The bill includes several findings about Social Security, emphasizing its importance to Americans, noting that nearly 90% of people over 65 receive benefits, over 9 million veterans rely on the program, and more than 6 million children depend on Social Security benefits. The expedited consideration process is designed to ensure rapid legislative action to prevent any interruption in Social Security payments if a trust fund becomes insolvent.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/963/all-info