What This Bill Does
This bill requires the Secretary of the Treasury to issue a "benefit guarantee certificate" to every person who receives Social Security benefits. The certificate legally guarantees that people will receive their full Social Security payments and that those payments will be adjusted at least once per year based on changes in the cost of living.
Who It Affects
Individuals who are entitled to Social Security benefits under title II of the Social Security Act (a federal program that pays benefits to retirees, disabled workers and survivors of deceased workers). The Secretary of the Treasury and the Commissioner of Social Security carry out the bill's requirements.
Key Provisions
* The Secretary of the Treasury must issue a benefit guarantee certificate to each person eligible for Social Security benefits within 90 days after the bill becomes law, and to any person who becomes eligible afterward (Sec. 2(a))
* Each certificate represents a legally enforceable guarantee showing the monthly benefit amount that person is entitled to receive under current Social Security law (Sec. 2(b)(1))
* Benefits must be adjusted at least once per year based on an accurate measurement of how much the cost of living has increased for that individual (Sec. 2(b)(2)(A))
* The certificate counts as budget authority in advance of appropriations Acts, meaning the federal government is obligated to pay the benefits shown in the certificate (Sec. 2(c))
What Changes
Social Security recipients would receive a legal guarantee certificate documenting their benefit amount and ensuring annual cost-of-living adjustments based on accurate measurements of their individual cost of living increases.
Important Definitions
None defined in bill text.
I
118TH CONGRESS
1ST SESSION
H. R. 521
To guarantee the right of individuals to receive Social Security benefits
under title II of the Social Security Act in full with an accurate annual
cost-of-living adjustment.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 25, 2023
Mr. MOONEY (for himself and Mr. LAMALFA) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To guarantee the right of individuals to receive Social Secu-
rity benefits under title II of the Social Security Act
in full with an accurate annual cost-of-living adjustment.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Social Security Guar-
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antee Act of 2023’’.
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SEC. 2. GUARANTEE OF FULL SOCIAL SECURITY BENEFITS
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WITH ACCURATE ANNUAL COST-OF-LIVING
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ADJUSTMENT.
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(a) IN GENERAL.—On a date not later than 90 days
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after the date of the enactment of this Act, the Secretary
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of the Treasury shall issue a benefit guarantee certificate
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to each individual who is determined by the Commissioner
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of Social Security as of such date to be entitled to benefits
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under title II of the Social Security Act (42 U.S.C. 401
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et seq.). The Secretary shall also issue such a certificate
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to any individual on the date such individual is determined
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thereafter to be entitled to benefits under such title.
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(b) BENEFIT GUARANTEE CERTIFICATE.—The ben-
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efit guarantee certificate issued pursuant to subsection (a)
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shall represent a legally enforceable guarantee—
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(1) of the monthly amount of benefits to which
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the individual is entitled under title II of the Social
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Security Act (as in effect on the date of the issuance
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of the certificate); and
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(2) that the benefits will be adjusted—
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(A) not less frequently than annually on
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the basis of an accurate determination of the
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increase in the cost-of-living of the individual;
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and
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•HR 521 IH
(B) in accordance with such title (as so in
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effect), to reflect any future changes in the eli-
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gibility status of the individual under such title.
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(c) ENTITLEMENT.—Any certificate issued under the
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authority of this section constitutes budget authority in
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advance of appropriations Acts and represents the obliga-
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tion of the Federal Government to provide for the payment
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to the individual to whom the certificate is issued benefits
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under title II of the Social Security Act (42 U.S.C. 401
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et seq.) in the amounts set forth in the certificate and
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adjusted thereafter as described in subsection (b)(2).
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Æ
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