To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to protect Social Security trust funds and save Social Security surpluses for Social Security.

[AI summary unavailable — showing source text] Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman- Hollings Act) to require a sequestration to reduce the amount of discretionary outlays in the current policy baseline for the budget year of the affected congressional session to a level equal to total non-social security receipts. Provides that, if: (1) after June 30, any discretionary appropriation is enacted that would cause total non-social security outlays to exceed total non- social security receipts (after taking into account a sequestration), the discretionary spending limits shall be reduced by the amount of the excess; and (2) after Congress adjourns to end the session for a budget year but before July 1 of that fiscal year, an appropriation for that fiscal year is enacted that would cause such outlays to exceed such receipts, there shall be a sequestration to eliminate the excess. Applies this Act beginning with FY 2000.…