PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Social Security.
Congressional Research Service
Version 00 · Introduced in House · Oct 28, 1999
Amends Federal law to require the Secretary of the Treasury to reduce the face amount of publicly-held obligations issued under public debt provisions and of those whose principal and interest are guaranteed by the U.S. Government (except guaranteed obligations held by the Secretary) by an amount not to exceed the amount of the social security trust funds surplus in the preceding fiscal year. Defines a "publicly-held obligation" as one subject to the public debt limit, except any obligation issued directly to certain Federal trust funds or Government accounts.Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm- Rudman-Hollings Act) to require, in any fiscal year when such obligations are reduced by an amount less than the amount of such surplus, the shortfall to be included in the calculation of the sequestration required to offset the deficit increase.
People & committees
Rep. Minge, David [D-MN-2] · D–MN
Legislative record
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Referred to the Subcommittee on Social Security.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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Analyze H.R.3175 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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