,,ii #aafth ,,congress #ast ,session ,s4 #dgh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #ac1 #bjai,mr4 ,sanders 7for himself1 ,mrs4 ,gillibrand1 ,mr4 ,merkley1 ,mr4 ,booker1 and ,ms4 ,harris7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to enhance ,social ,security benefits and ensure the long-term solvency of the ,social ,security program4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,social ,security ,expansion ,act4 7b7 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,sec4 #b4 ,across-the-board benefit increase4 ,sec4 #c4 ,computation of cost-of-living increases4 ,sec4 #d4 ,increase in minimum benefit for lifetime low earners based on years in the workforce4 ,sec4 #e4 ,extended benefit eligibility for children who are full-time students4 ,sec4 #f4 ,payroll tax on remuneration up to contribution and benefit base and more than #bej1jjj4 ,sec4 #g4 ,tax on net earnings from self-employment up to contribution and benefit base and more than #bej1jjj4 ,sec4 #h4 ,tax on investment gain4 ,sec4 #i4 ,social ,security ,trust ,fund established4 #b4 ,across-the-board benefit increase 7a7 ,in general ,section #bae7;a77#a77;,b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77;,b77 is amended-- 7#a7 by redesignating clause 7iii7 as clause 7iv72 and 7#b7 by inserting after clause 7ii7 the following new clause3 7iii7 ,for individuals who initially become eligible for old-age or disability insurance benefits1 or who die 7before becoming eligible for such benefits7 in any calendar year after #bjbd1 each of the amounts determined under clause 7ii7 of this subparagraph for purposes of subparagraph 7,a77i7 shall be increased by-- 7,i7 for calendar year #bjbe1 #a percent2 7,,ii7 for each of calendar years #bjbf through #bjch1 the percent determined under this clause for the preceding year increased by #a percentage point2 and 7,,iii7 for calendar year #bjci and each year thereafter1 #ae percent4 4 7b7 ,conforming amendment ,clause 7iv7 of section #bae7;a77#a77;,b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77;,b771 as redesignated by subsection 7a71 is amended by inserting 7after the application of clause 7iii71 when applicable7 after clause 7ii74 #c4 ,computation of cost-of-living increases 7a7 ,in general ,section #bae7;i77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#a77 is amended by adding at the end the following new subparagraph3 7,h7 the term ,consumer ,price ,index means the ,consumer ,price ,index for ,elderly ,consumers 7,,cpi-,e1 as published by the ,bureau of ,labor ,statistics of the ,department of ,labor74 4 7b7 ,application to pre-#aigi law 7#a7 ,in general ,section #bae7;i77#a7 of the ,social ,security ,act as in effect in ,december #aigh1 and as applied in certain cases under the provisions of such ,act as in effect after ,december #aigh1 is amended by adding at the end the following new subparagraph3 7,d7 the term ,consumer ,price ,index means the ,consumer ,price ,index for ,elderly ,consumers 7,,cpi-,e1 as published by the ,bureau of ,labor ,statistics of the ,department of ,labor74 4 7#b7 ,conforming change ,section #bae7;i77#d7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#d77 is amended-- 7,a7 by striking and by section #ijja and inserting 1 section #ijja2 and 7,b7 by inserting and section #c of the ,social ,security ,expansion ,act1 after #aihf14 7c7 ,no effect on adjustments under other laws ,section #bae7;i7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77 is amended by adding at the end the following3 7#f7 ,any provision of law 7other than in this title1 title ,,viii1 or title ,,xvi7 which provides for adjustment of an amount based on a change in benefit amounts resulting from a determination made under this subsection shall be applied and administered without regard to the amendments made by section #c of the ,social ,security ,expansion ,act1 and1 for purposes of making such an adjustment under such a provision1 this subsection as in effect on the day before the date of enactment of such ,act shall continue to apply4 4 7d7 ,publication of ,consumer ,price ,index for ,elderly ,consumers ,the ,bureau of ,labor ,statistics of the ,department of ,labor shall prepare and publish the index authorized by section #aia of the ,older ,americans ,amendments ,act of #aihg 7#bi ,u4,s4,c4 #b note7 for each calendar month1 beginning with ,july of the calendar year following the calendar year in which this ,act is enacted1 and such index shall be known as the ,consumer ,price ,index for ,elderly ,consumers4 7e7 ,effective date ,the amendments made by subsection 7a7 shall apply to determinations made with respect to cost-of-living computation quarters 7as defined in section #bae7;i77#a77;,b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#a77;,b777 ending on or after ,september #cj of the second calendar year following the calendar year in which this ,act is enacted4 #d4 ,increase in minimum benefit for lifetime low earners based on years in the workforce 7a7 ,in general ,section #bae7;a77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77 is amended-- 7#a7 by redesignating subparagraph 7,d7 as subparagraph 7,e72 and 7#b7 by inserting after subparagraph 7,c7 the following new subparagraph3 7,d7 7i7 ,effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits 7or die before becoming so eligible7 after #bjai1 no primary insurance amount computed under subparagraph 7,a7 may be less than the greater of-- 7,i7 the minimum monthly amount computed under subparagraph 7,c72 or 7,,ii7 in the case of an individual who has more than #aj years of work 7as defined in clause 7iv77,i771 the alternative minimum amount determined under clause 7ii74 7ii7 7,i7 ,the alternative minimum amount determined under this clause is the applicable percentage of #a_/ab of the annual dollar amount determined under clause 7iii7 for the year in which the amount is determined4 7,,ii7 ,for purposes of subclause 7,i71 the applicable percentage is the percentage specified in connection with the number of years of work1 as set forth in the following table3 ,if the number of years,the applicable of work is3percentage is3#aaf4be percent#abab4ej percent#acah4ge percent#adbe4jj percent#aeca4be percent#afcg4ej percent#agdc4ge percent#ahej4jj percent#aief4be percent#bjfb4ej percent#bafh4ge percent#bbge4jj percent#bcha4be percent#bdhg4ej percent#beic4ge percent#bfajj4jj percent#bgajf4be percent#bhaab4ej percent#biaah4ge percent#cj or more#abe4jj percent4 7iii7 ,the annual dollar amount determined under this clause is-- 7,i7 for calendar year #bjbj1 the poverty guideline for #bjai2 and 7,,ii7 for any calendar year after #bjbj1 the annual dollar amount for #bjbj multiplied by the ratio of-- 7aa7 the national average wage index 7as defined in section #bji7k77#a77 for the second calendar year preceding the calendar year for which the determination is made1 to 7bb7 the national average wage index 7as so defined7 for #bjah4 7iv7 ,for purposes of this subparagraph-- 7,i7 the term year of work means1 with respect to an individual1 a year to which #d quarters of coverage have been credited based on such individual's wages and self-employment income2 and 7,,ii7 the term poverty guideline for #bjai means the annual poverty guideline for #bjai 7as updated annually in the ,federal ,register by the ,department of ,health and ,human ,services under the authority of section #fgc7b7 of the ,omnibus ,budget ,reconciliation ,act of #aiha7 as applicable to a single individual4 4 7b7 ,recomputation ,notwithstanding section #bae7;f77#a7 of the ,social ,security ,act1 the ,commissioner of ,social ,security shall recompute primary insurance amounts originally computed for months prior to ,november #bjah to the extent necessary to carry out the amendments made by this section4 7c7 ,conforming amendment ,section #bji7k77#a7 of such ,act 7#db ,u4,s4,c4 #dji7k77#a77 is amended by inserting #bae7;a77#a77;,e71 after #bae7;a77#a77;,d714 #e4 ,extended benefit eligibility for children who are full-time students 7a7 ,in general 7#a7 ,in general ,section #bjb7;d7 of the ,social ,security ,act 7#db ,u4,s4,c4 #djb7;d77 is amended-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,b7-- 7,i7 by striking or 7ii7 and inserting 7ii72 and 7,,ii7 by inserting or 7iii7 was the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual and was a full-time student at an educational institution and had not attained the age of #bb1 after #bb12 7ii7 in subparagraph 7,e7-- 7,i7 by striking and 7ii7 and inserting 7ii72 and 7,,ii7 by inserting and 7iii7 is not a full-time student at an educational institution during any part of such month 7in the case of a child who is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual7 before the comma at the end2 7iii7 in subparagraph 7,f71 by striking clauses 7i7 and 7ii7 and inserting the following3 7i7 in the case of a child who is the child of an individual entitled to old-age insurance benefits-- 7,i7 the first month during no part of which the child is a full-time elementary or secondary school student1 or 7,,ii7 the month in which the child attains the age of #ai1 and 7ii7 in the case of a child who is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual-- 7,i7 the first month during no part of which the child is a full-time student at an educational institution1 or 7,,ii7 the month in which the child attains the age of #bb1 2 and 7iv7 in subparagraph 7,g71 by striking clauses 7ii7 and 7iii7 and inserting the following3 7ii7 in the case of a child who is the child of an individual entitled to old-age insurance benefits-- 7,i7 the first month during no part of which the child is a full-time elementary or secondary school student1 or 7,,ii7 the month in which the child attains the age of #ai1 and 7iii7 in the case of a child who is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual-- 7,i7 the first month during no part of which the child is a full-time student at an educational institution1 or 7,,ii7 the month in which the child attains the age of #bb1 2 7,b7 in paragraph 7#f7-- 7i7 in subparagraph 7,a7-- 7,i7 by striking or 7ii7 and inserting 7ii72 and 7,,ii7 by inserting or 7iii7 is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual and is a full-time student at an educational institution and has not attained the age of #bb1 after #bb12 and 7ii7 by striking subparagraphs 7,d7 and 7,e7 and inserting the following3 7,d7 the earlier of-- 7i7 in the case of a child who is the child of an individual entitled to old-age insurance benefits-- 7,i7 the first month during no part of which the child is a full-time elementary or secondary school student2 or 7,,ii7 the month in which the child attains the age of #ai2 and 7ii7 in the case of a child who is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual-- 7,i7 the first month during no part of which the child is a full-time student at an educational institution2 or 7,,ii7 the month in which the child attains the age of #bb2 but only if the child is not under a disability 7as so defined7 in such earlier month2 or 7,e7 if the child was under a disability 7as so defined71 the termination month 7as defined in paragraph 7#a77;,g77i771 subject to section #bbc7;e71 or 7if later7 the earlier of-- 7i7 in the case of a child who is the child of an individual entitled to old-age insurance benefits-- 7,i7 the first month during no part of which the child is a full-time elementary or secondary school student2 or 7,,ii7 the month in which the child attains the age of #ai2 and 7ii7 in the case of a child who is the child of an individual entitled to disability insurance benefits or of an individual who dies a fully or currently insured individual-- 7,i7 the first month during no part of which the child is a full-time student at an educational institution2 or 7,,ii7 the month in which the child attains the age of #bb4 2 and 7,c7 in paragraph 7#g71 by adding at the end the following new paragraphs3 7,e7 ,the term full-time student at an educational institution means an individual who is in full-time attendance as a student at an elementary school 7but only in the case of an individual who has not attained the age of #ai7 or a secondary school or an institution described in section #ajb of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajjb71 as determined by the ,commissioner of ,social ,security 7in accordance with regulations prescribed by the ,commissioner7 in the light of the standards and practices of the schools and institutions involved1 except that no individual shall be considered a full-time student at an educational institution if the individual is paid by his employer while attending a school or institution at the request1 or pursuant to a requirement1 of his employer4 ,an individual shall not be considered a full-time student at an educational institution for the purpose of this section while that individual is confined in a jail1 prison1 or other penal institution or correctional facility1 pursuant to the individual's conviction of an offense 7committed after the effective date of this sentence7 which constituted a felony under applicable law4 ,an individual who is determined to be a full-time student at an educational institution shall be deemed to be such a student throughout the month with respect to which such determination is made4 7,f7 ,except to the extent provided in such regulations1 an individual shall be deemed to be a full-time student at a school or educational institution during any period of nonattendance at a school or institution at which he has been in full-time attendance if 7i7 such period is #d calendar months or less1 and 7ii7 the individual shows to the satisfaction of the ,commissioner of ,social ,security that the individual intends to continue to be in full-time attendance at a secondary school or institution described in section #ajb of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajjb7 immediately following such period4 ,an individual who does not meet the requirement of clause 7ii7 with respect to such period of nonattendance shall be deemed to have met such requirement 7as of the beginning of such period7 if he is in full-time attendance at such a school or institution immediately following such period4 7,g7 ,a child who attains age #bb at a time when the child is a full-time student of an educational institution 7as defined in subparagraph 7,e7 and without application of subparagraph 7,f77 but has not 7at such time7 completed the requirements for1 or received1 a diploma or equivalent certificate from a secondary school 7as defined in subparagraph 7,c77i77 or1 if such child is a student at an educational institution described in section #ajb of the ,higher ,education ,act of #aife1 a diploma1 degree1 or equivalent degree from such an institution1 shall be deemed 7for purposes of determining whether the child's entitlement to benefits under this subsection has terminated under paragraph 7#a77;,f7 and for purposes of determining his initial entitlement to such benefits under clause 7iii7 of paragraph 7#a77;,b77 not to have attained such age until the first day of the first month following the end of the quarter or semester in which he is enrolled at such time 7or1 if the secondary school or educational institution in which he is enrolled is not operated on a quarter or semester system1 until the first day of the first month following the completion of the course in which the child is so enrolled or until the first day of the third month beginning after such time1 whichever first occurs74 4 7#b7 ,effective date ,the amendments made by this subsection shall apply to child's insurance benefits that are payable for months beginning on or after ,january #a1 #bjbj4 7b7 ,railroad ,retirement ,act 7#a7 ,section #b7;d7 of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bcb7b77;d77 is amended-- 7,a7 in clause 7iii7 of paragraph 7#a71 by striking will be less than nineteen years of age and a full-time elementary or secondary school student and inserting will be less than #bb years of age and a full-time student at an educational institution 7as defined in section #bjb7;d77#g77;,e7 of the ,social ,security ,act72 and 7,b7 in paragraph 7#d7-- 7i7 by striking 7defining the terms full-time elementary or secondary school student and elementary or secondary school72 7ii7 by striking nineteen and inserting #bb2 7iii7 by striking full-time elementary or secondary school student and inserting full-time student at an educational institution2 7iv7 by striking subparagraph 7,a7 of paragraph 7#g7 of section #bjb7;d7 of the ,social ,security ,act and without the application of subparagraph 7,b7 and inserting subparagraph 7,e7 of section #bjb7;d77#g7 of the ,social ,security ,act1 without regard to subparagraph 7,f7 of such section2 7v7 by striking a diploma or equivalent certificate from a secondary school 7as defined in section #bjb7;d77#g77;c77i7 of the ,social ,security ,act7 and inserting a diploma1 degree1 or equivalent certificate from a secondary school or educational institution described in section #bjb7;d77#g77;,e7 of the ,social ,security ,act2 and 7vi7 by striking elementary or secondary school in which he is enrolled and inserting school or institution in which the child is enrolled4 7#b7 ,section #e7;c77#g7 of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bce7;c77#g77 is amended-- 7,a7 by striking full-time elementary or secondary school student and inserting full-time student at an educational institution2 and 7,b7 by striking #ai and inserting #bb4 7#c7 ,the amendments made by this subsection shall apply to benefits under the ,railroad ,retirement ,act of #aigd that are payable for months beginning on or after ,january #a1 #bjbj4 #f4 ,payroll tax on remuneration up to contribution and benefit base and more than #bej1jjj 7a7 ,in general ,paragraph 7#a7 of section #caba7;a7 of the ,internal ,revenue ,code of #aihf is amended by inserting after such calendar year4 the following3 ,the preceding sentence shall apply only to calendar years for which the contribution and benefit base 7as so determined7 is less than #bej1jjj1 and1 for such calendar years1 only to so much of the remuneration paid to such employee by such employer with respect to employment as does not exceed #bej1jjj44 7b7 ,conforming amendment ,paragraph 7#a7 of section #caba of the ,internal ,revenue ,code of #aihf is amended by striking ,act7 to and inserting ,act71 or in excess of #bej1jjj1 to4 7c7 ,effective date ,the amendments made by this section shall apply to remuneration paid on or after ,january #a of the first calendar year that begins after the date of enactment of this ,act4 #g4 ,tax on net earnings from self-employment up to contribution and benefit base and more than #bej1jjj 7a7 ,in general ,paragraph 7#a7 of section #adjb7;b7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#a7 in the case of the tax imposed by section #adja7;a71 the excess of-- 7,a7 that part of the net earnings from self-employment which is in excess of-- 7i7 an amount equal to the contribution and benefit base 7as determined under section #bcj of the ,social ,security ,act7 which is effective for the calendar year in which such taxable year begins1 minus 7ii7 the amount of the wages paid to such individual during such taxable years1 over 7,b7 that part of the net earnings from self-employment which is in excess of the sum of-- 7i7 the excess of-- 7,i7 the net earning from self-employment reduced by the excess 7if any7 of subparagraph 7,a77i7 over subparagraph 7,a77ii71 over 7,,ii7 #bej1jjj1 reduced by such contribution and benefit base1 plus 7ii7 the amount of the wages paid to such individual during such taxable year in excess of such contribution and benefit base and not in excess of #bej1jjj2 or 4 7b7 ,phaseout ,subsection 7b7 of section #adjb of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following3 ,paragraph 7#a7 shall apply only to taxable years beginning in calendar years for which the contribution and benefit base 7as determined under section #bcj of the ,social ,security ,act7 is less than #bej1jjj44 7c7 ,effective date ,the amendments made by this section shall apply to net earnings from self-employment derived1 and remuneration paid1 on or after ,january #a of the first calendar year that begins after the date of enactment of this ,act4 #h4 ,tax on investment gain 7a7 ,in general ,subsection 7a7 of section #adaa of the ,internal ,revenue ,code of #aihf is amended by striking #c4h percent each place it appears and inserting #aj percent4 7b7 ,conforming amendment ,the heading for chapter #b;,a of the ,internal ,revenue ,code of #aihf is amended by inserting and ,social ,security after ,medicare4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after the date of enactment of this ,act4 #i4 ,social ,security ,trust ,fund established 7a7 ,in general ,section #bja7;a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dja7;a77 is amended to read as follows3 7a7 ,there is hereby created on the books of the ,treasury of the ,united ,states a trust fund to be known as the ,social ,security ,trust ,fund4 ,the ,social ,security ,trust ,fund shall consist of the securities held by the ,secretary of the ,treasury for the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and the amount standing to the credit of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund on the books of the ,treasury on ,january #a of the first calendar year beginning after the date of the enactment of section #i of the ,social ,security ,expansion ,act1 which securities and amount the ,secretary of the ,treasury is authorized and directed to transfer to the ,social ,security ,trust ,fund1 and1 in addition1 such gifts and bequests as may be made as provided in subsection 7i77#a71 and such amounts as may be appropriated to1 or deposited in1 the ,social ,security ,trust ,fund as hereinafter provided4 ,there is hereby appropriated to the ,social ,security ,trust ,fund for the first fiscal year that begins after date of the enactment of section #i of the ,social ,security ,expansion ,act1 and for each fiscal year thereafter1 out of any moneys in the ,treasury not otherwise appropriated1 amounts equivalent to #ajj percent of-- 7#a7 the taxes imposed by chapter #ba 7other than sections #caja7;b7 and #caaa7;b77 of the ,internal ,revenue ,code of #aihf with respect to wages 7as defined in section #caba of such ,code7 reported to the ,secretary of the ,treasury pursuant to subtitle ,f of the ,internal ,revenue ,code of #aihf1 as determined by the ,secretary of the ,treasury by applying the applicable rates of tax under such chapter 7other than sections #caja7;b7 and #caaa7;b77 to such wages1 which wages shall be certified by the ,commissioner of ,social ,security on the basis of the records of wages established and maintained by such ,commissioner in accordance with such reports2 7#b7 the taxes imposed by chapter #b 7other than section #adja7;b77 of the ,internal ,revenue ,code of #aihf with respect to self-employment income 7as defined in section #adjb of such ,code7 reported to the ,secretary of the ,treasury on tax returns under subtitle ,f of such ,code1 as determined by the ,secretary of the ,treasury by applying the applicable rate of tax under such chapter 7other than section #adja7;b77 to such self-employment income1 which self-employment income shall be certified by the ,commissioner of ,social ,security on the basis of the records of self-employment income established and maintained by the ,commissioner of ,social ,security in accordance with such returns2 and 7#c7 #fb percent of the taxes imposed under section #adaa of the ,internal ,revenue ,code of #aihf4 ,the amounts appropriated by paragraphs 7#a71 7#b71 and 7#c7 shall be transferred from time to time from the general fund in the ,treasury to the ,social ,security ,trust ,fund1 such amounts to be determined on the basis of estimates by the ,secretary of the ,treasury of the taxes1 specified in paragraphs 7#a71 7#b71 and 7#c71 paid to or deposited into the ,treasury2 and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or were less than the taxes specified in such paragraphs4 ,all amounts transferred to the ,social ,security ,trust ,fund under the preceding sentence shall be invested by the ,managing ,trustee in the same manner and to the same extent as the other assets of the ,trust ,fund4 ,notwithstanding the preceding sentence1 in any case in which the ,secretary of the ,treasury determines that the assets of the ,trust ,fund would otherwise be inadequate to meet the ,trust ,fund's obligations for any month1 the ,secretary of the ,treasury shall transfer to the ,trust ,fund on the first day of such month the total amount which would have been transferred to the ,trust ,fund under this section as in effect on ,october #a1 #aiij2 and the ,trust ,fund shall pay interest to the general fund on the amount so transferred on the first day of any month at a rate 7calculated on a daily basis1 and applied against the difference between the amount so transferred on such first day and the amount which would have been transferred to the ,trust ,fund up to that day under the procedures in effect on ,january #a1 #aihc7 equal to the rate earned by the investments of the ,trust ,fund in the same month under subsection 7d74 4 7b7 ,required actuarial analysis ,section #bja7;c7 of the ,social ,security ,act is amended by striking the fourth sentence in the matter following paragraph 7#e7 and inserting the following3 ,such report shall also include actuarial analysis of the benefit cost with respect to disabled beneficiaries and their auxiliaries1 to retired beneficiaries and their auxiliaries1 and to survivor beneficiaries44 7c7 ,board of ,trustees 7#a7 ,board of ,trustees of ,social ,security ,trust ,fund ,section #bja7;c7 of the ,social ,security ,act1 as amended by subsection 7b7 of this section1 is further amended in the matter preceding paragraph 7#a7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund 7hereinafter in this title called the ,trust ,funds7 and inserting the ,social ,security ,trust ,fund 7in this title referred to as the ,trust ,fund74 7#b7 ,continuity of ,board of ,trustees ,the ,board of ,trustees of the ,social ,security ,trust ,fund created by the amendment made by subsection 7a7 shall be a continuous body with the ,board of ,trustees of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund in operation prior to the effective date of such amendment4 ,individuals serving as members of the ,board of ,trustees of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund as of the effective date of such amendment shall serve the remainder of their term as members of the ,board of ,trustees of the ,social ,security ,trust ,fund4 7d7 ,conforming amendments related to ,social ,security ,trust ,fund 7#a7 ,amendment to section heading ,the section heading for section #bja of the ,social ,security ,act is amended to read as follows3 ,social ,security ,trust ,fund4 7#b7 ,board of ,trustees ,section #bja7;c7 of such ,act1 as amended by subsections 7b7 and 7c77#a71 is further amended-- 7,a7 in the matter preceding paragraph 7#a71 by striking ,board of ,trustees of the ,trust ,funds and inserting ,board of ,trustees of the ,trust ,fund2 7,b7 in paragraph 7#a71 by striking ,trust ,funds and inserting ,trust ,fund2 7,c7 in paragraph 7#b7-- 7i7 by striking ,trust ,funds and inserting ,trust ,fund2 and 7ii7 by striking their and inserting its2 7,d7 in paragraph 7#c71 by striking either of the ,trust ,funds and inserting the ,trust ,fund2 7,e7 in paragraph 7#e7-- 7i7 by striking managing the ,trust ,funds and inserting managing the ,trust ,fund2 and 7ii7 by striking ,trust ,funds are and inserting ,trust ,fund is2 7,f7 in the matter following paragraph 7#e71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7,g7 in the second sentence in the matter following paragraph 7#e71 by striking whether the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 individually and collectively1 are and inserting whether the ,social ,security ,trust ,fund is4 7#c7 ,investments ,section #bja of such ,act is amended in subsections 7d7 and 7e7 by striking ,trust ,funds each place it appears and inserting ,trust ,fund4 7#d7 ,crediting of interest and proceeds to ,trust ,funds ,section #bja7;f7 of such ,act is amended-- 7,a7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund shall be credited to and form a part of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,disability ,insurance ,trust ,fund1 respectively and inserting the ,social ,security ,trust ,fund shall be credited to and form a part of the ,social ,security ,trust ,fund2 7,b7 by striking either of the ,trust ,funds and inserting the ,trust ,fund2 and 7,c7 by striking such ,trust ,fund and inserting the ,trust ,fund4 7#e7 ,administrative costs ,section #bja7;g7 of such ,act is amended-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,a71 by striking ,of the amounts authorized to be made available out of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund under the preceding sentence and all that follows through 7,public ,law #ajc-bif742 and 7ii7 in subparagraph 7,b77i7-- 7,i7 by striking subclauses 7,,ii7 and 7,,iii7 and inserting the following3 7,,ii7 the portion of such costs which should have been borne by the ,social ,security ,trust ,fund1 2 and 7,,ii7 by redesignating subclauses 7,,iv7 and 7,v7 as subclauses 7,,iii7 and 7,,iv72 7,b7 in paragraph 7#b7-- 7i7 by striking ,trust ,funds and inserting ,trust ,fund2 and 7ii7 by striking the last sentence2 and 7,c7 in paragraph 7#d71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund4 7#f7 ,benefit payments ,section #bja7;h7 of such ,act is amended to read as follows3 7h7 ,all benefit payments required to be made under this title shall be made only from the ,social ,security ,trust ,fund4 4 7#g7 ,gifts ,section #bja7;i7 of such ,act is amended-- 7,a7 in paragraph 7#a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7,b7 in paragraph 7#b77;,b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund4 7#h7 ,travel expenses ,section #bja7;j7 of such ,act is amended by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 or the ,federal ,disability ,insurance ,trust ,fund 7as determined appropriate by the ,commissioner of ,social ,security7 and inserting the ,social ,security ,trust ,fund4 7#i7 ,demonstration projects ,section #bja7k7 of such ,act is amended by striking the ,federal ,disability ,insurance ,trust ,fund and the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 as determined appropriate by the ,commissioner of ,social ,security and inserting the ,social ,security ,trust ,fund4 7#aj7 ,benefit checks ,section #bja7m7 of such ,act is amended-- 7,a7 in paragraph 7#b71 by striking each of the ,trust ,funds and inserting the ,social ,security ,trust ,fund2 7,b7 in paragraph 7#c71 by striking one of the ,trust ,funds and inserting the ,trust ,fund2 and 7,c7 by striking such ,trust ,fund each place it appears and inserting the ,trust ,fund4 7#aa7 ,conforming repeals 7,a7 ,in general ,section #bja of such ,act is amended by striking subsections 7b71 7l71 and 7n74 7,b7 ,redesignations ,section #bja of such ,act is further amended-- 7i7 by redesignating subsections 7c7 through 7j7 as subsections 7b7 through 7i71 respectively2 7ii7 by redesignating subsection 7k7 as subsection 7j72 and 7iii7 by redesignating subsection 7m7 as subsection 7k74 7,c7 ,references to redesignated sections 7i7 ,section #bja7;a7 of such ,act1 as amended by subsection 7a7 of this section1 is further amended-- 7,i7 by striking subsection 7i77#a7 and inserting subsection 7h77#a72 and 7,,ii7 by striking subsection 7d7 and inserting subsection 7c74 7ii7 ,section #aaca7;b77#a7 of such ,act is amended by striking section #bja7;g77#a7 and inserting section #bja7;f77#a74 7e7 ,other conforming amendments to ,social ,security ,act 7#a7 ,title ,,ii ,title ,,ii of the ,social ,security ,act 7#db ,u4,s4,c4 #dja et seq47 is amended-- 7,a7 in section #bjb7x77#c77;,b77iii71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate1 and inserting the ,social ,security ,trust ,fund2 7,b7 in section #bjf7;d77#e71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate and inserting the ,social ,security ,trust ,fund2 7,c7 in section #bjf7;e77#c77;,b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,d7 in section #bjh7;b77#e77;,a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate and inserting the ,social ,security ,trust ,fund2 7,e7 in section #bae7;i77#a77;,f7-- 7i7 in clause 7i7-- 7,i7 by striking the combined balance in the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the balance in the ,social ,security ,trust ,fund2 and 7,,ii7 by striking and reduced by the outstanding amount of any loan 7including interest thereon7 theretofore made to either such ,fund from the ,federal ,hospital ,insurance ,trust ,fund under section #bja7l72 and 7ii7 in clause 7ii7-- 7,i7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7,,ii7 by striking 7other than payments and all that follows through from that ,account2 7,f7 in section #bag7;g77#b71 by inserting after the first sentence the following3 ,for purposes of any such revision of the amount determined under paragraph 7#a7 that occurs in a year after #bjae1 any reference in such paragraph to the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund shall be deemed to be a reference to the ,social ,security ,trust ,fund42 7,g7 in section #bba7;e7-- 7i7 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7ii7 by striking the last sentence2 7,h7 in section #bba7;f71 by striking ,trust ,funds and inserting ,trust ,fund2 7,i7 in section #bbb7;d7-- 7i7 in the section heading1 by striking ,trust ,funds and inserting ,trust ,fund2 7ii7 in paragraph 7#a71 by striking to the end that savings will accrue to the ,trust ,funds as a result of rehabilitating such individuals1 there are authorized to be transferred from the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting to the end that savings will accrue to the ,trust ,fund as a result of rehabilitating such individuals1 there are authorized to be transferred from the ,social ,security ,trust ,fund2 and 7iii7 by amending paragraph 7#d7 to read as follows3 7#d7 ,the ,commissioner of ,social ,security shall determine according to such methods and procedures as the ,commissioner may deem appropriate the total amount to be reimbursed for the cost of services under this subsection4 2 7,j7 in section #bbh7;g7-- 7i7 in the section heading1 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in the matter preceding paragraph 7#a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,k7 in section #bca7;c71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7,l7 in section #bcd7;a77#a71 by striking ,trust ,funds and inserting ,trust ,fund4 7#b7 ,title ,,vii ,title ,,vii of the ,social ,security ,act 7#db ,u4,s4,c4 #ija et seq47 is amended-- 7,a7 in section #gjc7;j71 by striking ,federal ,disability ,insurance ,trust ,fund1 the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 and inserting ,social ,security ,trust ,fund2 7,b7 in section #gjh7;c71 by striking the ,,oasdi trust fund ratio under section #bja7l71 after computing2 7,c7 in section #gji-- 7i7 in subsection 7a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in subsection 7b7-- 7,i7 in paragraph 7#a71 by striking section #bja7l7 or2 and 7,,ii7 in paragraph 7#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,d7 in section #gaj-- 7i7 in subsection 7a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in subsection 7b7-- 7,i7 by striking any ,trust ,fund specified in subsection 7a7 and inserting the ,social ,security ,trust ,fund2 and 7,,ii7 by striking payments from any such ,trust ,fund and inserting payments from the ,social ,security ,trust ,fund4 7#c7 ,title ,,xi ,title ,,xi of the ,social ,security ,act 7#db ,u4,s4,c4 #acja et seq47 is amended-- 7,a7 in section #aajf7;b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,b7 in section #aabi7;e77#b77;,a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 as determined appropriate by the ,secretary and inserting the ,social ,security ,trust ,fund2 7,c7 in sections #aaca7;b77#b7 and #aadj7;c77#b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,d7 in section #aade7;c7-- 7i7 by striking paragraphs 7#a7 and 7#b7 and inserting the following3 7#a7 the ,social ,security ,trust ,fund2 2 and 7ii7 by redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#b7 and 7#c71 respectively2 and 7,e7 in section #aadh7;j77#a77;,a7-- 7i7 in the first sentence1 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7ii7 by striking the second sentence4 7#d7 ,title ,,xviii ,title ,,xviii of the ,social ,security ,act 7#db ,u4,s4,c4 #acie7 is amended-- 7,a7 in section #ahag7;g71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and from the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,b7 in section #ahdj7;a77#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,c7 in section #ahda7;f71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and from the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7f7 ,conforming amendments outside of ,social ,security ,act 7#a7 ,budget 7,a7 ,off-budget exemption ,section #dje7;a7 of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fee7;a77 is amended by striking ,federal ,old-,age and ,survivors ,insurance and ,federal ,disability ,insurance ,trust ,funds and inserting ,social ,security ,trust ,fund4 7,b7 ,sequestration exemption ,section #bee7;g77#a77;,a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ije7;g77#a77;,a77 is amended by striking ,payments to ,social ,security ,trust ,funds and inserting ,payments to the ,social ,security ,trust ,fund4 7#b7 ,tax 7,a7 ,taxable wages ,section #caba7l77#d7 of the ,internal ,revenue ,code of #aihf is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7,b7 ,overpayments 7i7 ,section #fdjb7;d77#c77;,c7 of the ,internal ,revenue ,code of #aihf is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 whichever is certified to the ,secretary as appropriate by the ,commissioner of ,social ,security and inserting ,social ,security ,trust ,fund4 7ii7 ,subsection 7f77#b77;,b7 of section #cgbj;,a of title #ca1 ,united ,states ,code1 is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 whichever is certified to the ,secretary of the ,treasury as appropriate by the ,commissioner of ,social ,security and inserting ,social ,security ,trust ,fund4 7#c7 ,false claims penalties ,subsection 7g77#b7 of section #chjf of title #ca1 ,united ,states ,code1 is amended-- 7,a7 in subparagraph 7,b7-- 7i7 by striking ,secretary of ,health and ,human ,services and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,b7 in subparagraph 7,c7-- 7i7 by striking ,secretary of ,health and ,human ,services and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7#d7 ,railroad ,retirement ,board ,section #g of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca;f7 is amended-- 7,a7 in subsection 7b77#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,b7 in subsection 7c77#b7-- 7i7 by striking ,secretary of ,health1 ,education1 and ,welfare each time it appears and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund1 each time it appears and inserting ,social ,security ,trust ,fund2 and 7,c7 in subsection 7c77#d71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund1 and inserting ,social ,security ,trust ,fund4 7g7 ,rule of construction ,effective beginning on ,january #a of the first calendar year beginning after the date of the enactment of this section1 any reference in law to the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund is deemed to be a reference to the ,social ,security ,trust ,fund4 7h7 ,effective date ,the amendments made by this section shall take effect on ,january #a of the first calendar year beginning after the date of the enactment of this section4