HOUSE PASSES SOCIAL SECURITY AND MEDICARE LOCK-BOX ACT OF 2001

Today's Legislation Includes Language from Ryan's Past Lock-box Measures

WASHINGTON – First District Congressman Paul Ryan today voted in favor of the Social Security and Medicare Lock-Box Act of 2001 (H.R. 2), which passed with strong bipartisan support in the U.S. House of Representatives by a vote of 407-2. Ryan is a cosponsor of this legislation, which creates a procedural "lock-box" to protect the Social Security and Medicare surpluses from being used for any purpose other than debt reduction or Social Security and Medicare reform.

"Stopping the decades-long raid on Social Security has been a top priority for me since I entered Congress," said Ryan, "so I'm very happy with the outcome of today's vote. For the past two years, I've written language into House budget resolutions to protect Social Security. Similar language was included in the bill that passed the House today. I'm proud that we laid the groundwork for this lock-box legislation, which will help Congress maintain fiscal discipline in the face of growing budget surplus estimates."

 Ryan added: "Today's lock-box legislation will prevent Congress from dipping into Social Security and Medicare to cover unrelated government spending. So it serves as a very important tool in helping us honor our commitment to today's seniors and tomorrow's retirees."

The Social Security and Medicare Lock-Box Act allows any Member of the House or Senate to raise a point of order preventing the consideration of a budget resolution, spending bill, or tax bill that would result in a total budget surplus less than the combined Social Security and Medicare Hospital Insurance surpluses. In the House, this point of order is automatically sustained unless a majority of House Members vote to overturn it. In the Senate, the point of order is sustained unless 60 or more Senators vote to overturn it. (The points of order would not apply to legislation reforming Social Security or Medicare.)

"More can – and needs to be – done to shore up Social Security and Medicare," said Ryan. "By safeguarding Social Security and Medicare surpluses, today's lock-box bill offers an excellent starting point."

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