H.R. 5834 · 111th Congress
Preserving Our Promise to Seniors Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DeutchSponsorNo cosponsors.
Preserving Our Promise to Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPIEC) that indicates changes over time in consumption expenditures typical for individuals in the United States 62 years of age or older.
What it does: CRS summary · Introduced in House · Jul 22, 2010
Preserving Our Promise to Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPIEC) that indicates changes over time in consumption expenditures typical for individuals in the United States 62 years of age or older.
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to tie the CPIEC to computation of cost-of-lving increases in OASDI benefits.
Directs the Secretary of the Treasury to disburse a cash payment of $250 (adjusted for inflation) for each non-COLA year to certain recipients of OASDI benefits, railroad retirement benefits, veterans disability compensation or pension benefits, or Supplemental Security Income (SSI) benefits under SSA title XVI.
Amends the Internal Revenue Code to prescribe special rules for the determination of wages and self-employment income above the contribution and benefit base after 2010.
Develops points of order in the House of Representatives and the Senate with respect to consideration of any legislation whose effect would be a program: (1) reducing OASDI benefits in connection with contributions to individual beneficiary accounts in the private sector; or (2) providing for investment of amounts in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund in any investment vehicle other than interest-bearing U.S. obligations or U.S.-guaranteed obligations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preserving Our Promise to Seniors Act
Latest action (Oct 13, 2010): Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Policy area: Social Welfare · Origin: House · Introduced: Jul 22, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.