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Protecting Social Security Act

3/5/2025, 5:08 AM

Summary of Bill HR 963

Bill 119 hr 963, also known as the "Expedited Consideration of Insolvency of Social Security Trust Funds Act," aims to address the potential insolvency of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund.

If either of these trust funds were to become insolvent, this bill would require Congress to expedite the consideration of a bill that specifically addresses the insolvency issue. This means that lawmakers would need to prioritize and fast-track the legislative process in order to find a solution to ensure the financial stability of these important social security programs.

The purpose of this bill is to prevent any delays or gridlock in Congress that could potentially worsen the financial situation of these trust funds. By mandating expedited consideration, lawmakers would be compelled to act swiftly and decisively in order to protect the benefits of retirees and individuals with disabilities who rely on these funds for financial support. Overall, Bill 119 hr 963 seeks to ensure that the insolvency of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund is addressed promptly and effectively in order to safeguard the future of these vital social security programs.

Congressional Summary of HR 963

Protecting Social Security Act

This 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. 

Read the Full Bill

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Current Status of Bill HR 963

Bill HR 963 is currently in the status of Bill Introduced since February 4, 2025. Bill HR 963 was introduced during Congress 119 and was introduced to the House on February 4, 2025.  Bill HR 963's most recent activity was 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. as of February 4, 2025

Bipartisan Support of Bill HR 963

Total Number of Sponsors
2
Democrat Sponsors
2
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 963

Primary Policy Focus

Alternate Title(s) of Bill HR 963

To require expedited consideration of a bill that addresses the insolvency of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund in the case that either trust fund becomes insolvent.
To require expedited consideration of a bill that addresses the insolvency of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund in the case that either trust fund becomes insolvent.

Comments

Sponsors and Cosponsors of HR 963

Patrick Ryan
Patrick Ryan
New YorkDemocrat

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