To amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide to Congress information on payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, and for other purposes.
About This Bill
Committee
Latest Action · March 19, 2024
Read twice and referred to the Committee on the Budget.
The Save Our Seniors Act requires the Congressional Budget Office to provide Congress with more detailed information about Social Security payments, specifically comparing what the law currently allows for payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund against what would be payable if limited to dedicated funding sources. The bill modifies the Congressional Budget and Impoundment Control Act of 1974 to mandate that this comparison be included in regular budget reports and presented in graph format alongside other trust fund information. This change affects Congress's ability to understand Social Security's financial outlook and would be included in the budget reports that must be submitted to Congress by February 15 of each year. The bill was introduced on March 19, 2024, with bipartisan support and referred to the Senate Budget Committee. The legislation does not establish new funding but rather requires additional analysis and reporting to help lawmakers understand the gap between current law and what Social Security's dedicated revenues can sustain.
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