IA

106TH CONGRESS

1ST SESSION H. J. RES. 32

Expressing the sense of the Congress that the President and the Congress

should join in undertaking the Social Security Guarantee Initiative to

strengthen and protect the retirement income security of all Americans

through the creation of a fair and modern Social Security Program

for the 21st century.

IN THE HOUSE OF REPRESENTATIVES

FEBRUARY 23, 1999

Mr. RYAN of Wisconsin introduced the following joint resolution; which was

referred to the Committee on Ways and Means

JOINT RESOLUTION

Expressing the sense of the Congress that the President

and the Congress should join in undertaking the Social

Security Guarantee Initiative to strengthen and protect

the retirement income security of all Americans through

the creation of a fair and modern Social Security Program for the 21st century.

1 Resolved by the Senate and House of Representatives

2 of the United States of America in Congress assembled,

3

4 SECTION 1. SHORT TITLE.

5 This joint resolution may be cited as the ‘‘Social Se6 curity Guarantee Initiative’’.
2

•HJ 32 IH

1 SEC. 2. FINDINGS.

2 The Congress finds that—

3 (1) the Social Security program provides bene4 fits to 44,000,000 Americans, including more than

5 27,000,000 retirees, 5,000,000 people with disabil6 ities, and 2,000,000 surviving children, and is essen7 tial to the dignity and security of the Nation’s elder8 ly, disabled, and their families;

9 (2) the Social Security program’s progressive

10 benefit structure is of particular importance to

11 women, due to their (A) longer life expectancies than

12 men, making the Social Security program’s lifetime,

13 inflation-adjusted benefits a critical income support

14 especially for widows; (B) lower average earnings;

15 and (C) lower pension and other retirement savings,

16 stemming in part from their lower incomes and their

17 spending an average of 11 years out of the paid

18 workforce caring for families;

19 (3) the approaching retirement of the Baby

20 Boom Generation will result in the Social Security

21 program’s benefit costs exceeding its tax revenues

22 beginning in 2013;

23 (4) the Social Security program faces looming

24 insolvency and instability in the next century so that

25 by 2032 the Social Security Trust Funds will be
3

•HJ 32 IH

1 fully depleted and the program will be able to honor

2 less than 75 percent of benefit commitments; and

3 (5) prompt action is necessary to restore Ameri4 cans’ confidence that their retirement benefits will

5 be protected.

6 SEC. 3. SENSE OF THE CONGRESS.

7 The President and the Congress should join in

8 strengthening and protecting the retirement income secu9 rity of all Americans through the creation of a fair and

10 modern Social Security program for the 21st century

11 that—

12 (1) ensures equal treatment across generations

13 to all Americans, especially minorities and other low14 income workers;

15 (2) recognizes the unique obstacles that women

16 face in ensuring retirement, disability, and survivor

17 security and the essential role that the Social Secu18 rity program plays in protecting financial stability

19 for women;

20 (3) provides a continuous benefit safety net for

21 workers, their survivors, their dependents, and indi22 viduals with disabilities;

23 (4) protects guaranteed lifetime benefits for

24 current retirees and those nearing retirement; and
4

•HJ 32 IH

1 (5) avoids any increase in taxes.

Æ