Protect Our Seniors Act: Rescinding IRS Funds and Safeguarding Social Security/Medicare
This Act aims to rescind unspent funds previously allocated to enhance the Internal Revenue Service (IRS) and transfer these amounts equally to the Social Security and Medicare trust funds. Furthermore, it establishes new Senate rules making it significantly harder (requiring a two-thirds vote) to consider any legislation that would reduce Social Security or Medicare benefits, thereby protecting these crucial programs for seniors.
Key points
IRS Funding Rescission: Unobligated balances intended for IRS enforcement and operations support are rescinded.
Senior Benefit Funding: The rescinded funds are transferred, 50% to the Federal Old-Age and Survivors Insurance Trust Fund (Social Security) and 50% to the Federal Hospital Insurance Trust Fund (Medicare).
Benefit Protection: A new Senate rule (point of order) is established, requiring a two-thirds vote to waive consideration of any bill that would reduce Social Security or Medicare benefits.
Offset Prohibition: A rule is introduced preventing the use of Medicare savings (decreased outlays or increased revenue) to offset the costs of provisions unrelated to Medicare programs.
Expired
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