H.R. 4793: Save Our Seniors Act

This bill, known as the Save Our Seniors Act, aims to enhance the transparency of financial information related to two key trust funds that support seniors and individuals with disabilities: the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund. The primary purpose of the bill is to amend the Congressional Budget and Impoundment Control Act of 1974 by instituting a requirement for the Congressional Budget Office (CBO) to provide detailed reports on payments from these trust funds.

Key Provisions

• Enhanced Reporting Requirements: The bill mandates that the CBO include specific information in its reports concerning the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund. This includes a graphical comparison of projected payments versus actual outlays.
• Comparison of Financial Data: The CBO is required to compare the amount of funding assumed under previous budget laws with the actual payments made from these trust funds, providing clarity on the financial status and sustainability of the funds.
• Focus on Transparency: By requiring this information to be presented clearly and graphically, the legislation seeks to make it easier for Congress and the public to understand the financial health of the trust funds that support millions of Americans.

Implications

The goal of this bill is to ensure that policymakers and the public have access to important information regarding the funding and expenditures from these two vital programs, which can influence future legislation and funding decisions. It aims to improve oversight and accountability in managing these trust funds, which are crucial for senior citizens and disabled individuals who rely on them for financial support.

Relevant Companies

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