Social Security and Medicare Lock-Box Act
HR 853, the Social Security and Medicare Lock-Box Act, creates new "Surplus Protection Accounts" within the Social Security and Medicare Part A trust funds to safeguard future surpluses. Starting after fiscal year 2024, annual surpluses (taxes collected minus benefits paid) must be transferred to these accounts, which cannot be invested. The bill also establishes a Commission to study alternative investment options for these funds and report by October 2024. This legislation directly affects the long-term financial management of Social Security and Medicare Part A by preserving surplus funds in a dedicated account.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
President
Introduced Feb 6, 2023
Last action Dec 17, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Dec 17, 2024
Committee
Referred to the Subcommittee on Social Security.
lower
Feb 6, 2023
Committee
Referred to the House Committee on Ways and Means.
lower
Feb 6, 2023
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Tim Walberg
RRepublican
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