Protecting Social Security Act
Protecting Social Security Act
Plain Language Summary
# Protecting Social Security Act Summary **What the Bill Does** The Protecting Social Security Act would ensure that Social Security benefits continue to be paid even if one or both of the program's trust funds run out of money. Currently, Social Security relies on two trust funds—one for retirement and survivor benefits, and one for disability benefits. If either fund becomes insolvent (runs dry), beneficiaries could face automatic benefit cuts.
This bill would provide federal funding to cover the shortfall and keep full payments going to recipients. **Key Provisions and Who It Affects** The bill affects roughly 67 million Americans who receive Social Security benefits, including retirees, people with disabilities, and survivors of deceased workers. The main provisions include: (1) automatic federal funding to cover any payment gaps if trust funds become insolvent, and (2) a requirement that the Social Security Administration alert Congress when insolvency is approaching, triggering an expedited legislative process to address the long-term problem. The bill doesn't solve the underlying funding issue—it's a stopgap measure—but it prevents immediate benefit cuts while Congress works on permanent solutions. **Current Status** The bill was introduced in the 119th Congress by Representative Patrick Ryan (D-NY) and is currently in committee, meaning it hasn't yet been debated or voted on by the full House.
CRS Official Summary
Protecting Social Security ActThis bill provides funds for Social Security benefits payments in the event of the insolvency of one or both of the Social Security trust funds, and provides for the expedited consideration of legislation to address such insolvency in Congress.Specifically, for any period in which the balance of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund is insufficient to cover monthly payments to beneficiaries, the bill provides funding in the amount necessary to make such payments. Further, the bill requires the Social Security Administration (SSA) to notify Congress of the insolvency of either trust fund, and makes certain legislation to address the insolvency eligible for expedited consideration upon such a notification. The bill sets forth certain requirements for eligible legislation, including that it must ensure that individuals entitled to Social Security or disability benefits continue to receive payments in full. The bill also sets out procedures for the consideration of eligible legislation in each chamber of Congress, including through specified time limits for committee consideration and a prohibition on amendments. Finally, the bill requires SSA to maintain a field office in every U.S. county with a population of more than 150,000.
Latest Action
Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.