February 16, 2001
House Approves Medicare Lockbox Legislation
On Feb. 13, the House approved the "Social Security and Medicare Lock-Box Act of 2001" (H.R. 2), 407-2, to ensure that Social Security and Medicare trust funds "from being used for any purpose other than providing retirement and health security."
Specifically, the bill create new procedures to make it more difficult for Congress to spend any money in the Social Security and Medicare trust funds for a purpose other than reform of those two programs. However, either the House or Senate could vote to waive the point of order that would lie against the procedures put into place. Moreover, the bill continues the current practice whereby Social Security and Medicare trust fund surpluses pay down the national debt.
The Bush administration supports the legislation. Wording dealing with the Medicare Part A trust fund was negotiated, as the administration opposes taking the Medicare Part A trust fund off budget and giving it the same budget status now given to the Social Security trust fund.
Information: Lynne L. Davis, AAMC Office of Governmental Relations, 202-828-0526.
