1. Short title; findings (a) Short title This Act may be cited as the Social Security and Medicare Lock-Box Act . (b) Findings regarding social security and Medicare part A The Congress finds the following: (1) (A) Long-term projections show serious problems facing the fiscal health of the trust funds associated with Social Security and Medicare Hospital Insurance. (B) According to the 2020 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, the assets of the combined Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund will be exhausted in 2035, and the Disability Insurance Trust Fund alone will be depleted in 2065. (C) According to the 2020 Annual Report of the Board of Trustees of the Federal Hospital Insurance, the assets of the Federal Hospital Insurance Trust Fund will be exhausted in 2026. (2) The Trustees of these trust funds encourage lawmakers to address the long-term financial challenges of the Social Security and Medicare programs as soon as possible. (3) Social Security and Medicare are meant to provide a secure and stable base so that older Americans can live in dignity. (4) Protecting the future surpluses of these trust funds can only occur when meaningful reform has been enacted by Congress. Any path to solvency must include the protection of future surpluses. 2. Interim protections for Social Security trust fund surplus Section 201(d) of the Social Security Act ( 42 U.S.C. 402(d) ) is amended— (1) by striking It shall be the duty and inserting (1) Except as provided in paragraph (2), it shall be the duty ; (2) by striking (1) on original issue at the issue price, or (2) and inserting (A) on original issue at the issue price, or (B)