H.R. 5179: Social Security Solvency Act of 2004
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H.R. 5179: Social Security Solvency Act of 2004
108th Congress · introduced 2004-09-29 · Social Welfare · Latest: Referred to the Subcommittee on Social Security.
federal
Follow this bill, step by step
- Where it came from: introduced 2004-09-29 · official record
- Who proposed it: Rep. Obey, David R. [D-WI-7] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Social Security. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Social Security Solvency Act of 2004
Plain summary
Social Security Solvency Act of 2004 - Amends title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act (SSA) to: (1) revise requirements for calculating the contribution and benefit base with respect to remuneration paid (including self-employment income derived) during the calendar years between 2005 and 2037; and (2) apply the chained consumer price index for all urban consumers in determining cost-of-living increases in benefits. Amends the Internal Revenue Code, with respect to the unified credit against the estate tax, to set the applicable exclusion amount permanently at $3.5 million (the amount currently set for 2009). Makes appropriations (and requires transfers from the General Fund) at least quarterly to the Federal Old-Age and Survivors Insurance Trust Fund equivalent to estate taxes and taxes on generation-skipping transfers. Amends SSA title II to require the statement of projected insolvency in the annual report of the Board of Trustees of the Social Security Trust Funds to include: (1) the Board's best estimate of the date as of which the Trust Funds will, with no change in employment tax rates, first have assets insufficient to pay scheduled benefits in full on a timely basis; and (2) if such date is within two years after the filing of the report, the minimum increase necessary in such tax rates necessary to preclude such an insufficiency period. Amends the Internal Revenue Code to provide for future adjustment of employment tax rates to keep the Social Security Trust Funds in balance.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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What does this mean? (plain words)
Official text
Social Security Solvency Act of 2004
Source: Congressional Research Service summary (Introduced in House)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Obey, David R. [D-WI-7] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (3)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
- Estate tax
- A tax on the property of a person who has died, paid from the estate before what is left passes to the heirs. Compare inheritance tax.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108hr5179.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/hr>
Record fed-us-cong108-hr5179 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108