Bipartisan Social Security Commission Act of 2023

Bipartisan Social Security Commission Act of 2023

This bill establishes a temporary commission within the legislative branch to provide Congress with recommendations and proposed legislation to ensure the solvency of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (commonly referred to as the Social Security trust funds) for at least 75 years. The bill also sets out expedited procedures for the consideration of legislation proposed by the commission.

The commission terminates within 60 days of providing its recommendations and proposed legislation.

Bill 118 hr 281, also known as the Bipartisan Social Security Commission Act of 2023, is a piece of legislation introduced in the US Congress. The purpose of this bill is to establish a bipartisan commission to study and make recommendations on the long-term solvency of the Social Security program.

The commission would be made up of 12 members, with equal representation from both major political parties. These members would be appointed by the President, the Speaker of the House, and the Senate Majority Leader. The commission would be tasked with conducting a comprehensive review of the Social Security program, including its funding mechanisms, benefit levels, and eligibility requirements.

Once the commission has completed its review, it would be required to submit a report to Congress with its findings and recommendations. Congress would then have the opportunity to consider these recommendations and take action to address any issues identified by the commission. Overall, the Bipartisan Social Security Commission Act of 2023 aims to promote cooperation between Democrats and Republicans in addressing the long-term financial challenges facing the Social Security program. By bringing together members from both parties to study the issue and make recommendations, this bill seeks to ensure that any changes to the program are made in a bipartisan and thoughtful manner.