106TH CONGRESS

1ST SESSION H. J. RES. 32

JOINT RESOLUTION

Expressing the sense of the Congress that the

cans for the 21st century.tect the retirement income security of all Ameristrengthen the Social Security program and protaking the Social Security Guarantee Initiative toPresident and the Congress should join in under-
106TH CONGRESS

1ST SESSION H. J. RES. 32

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 the Social

Security program and protect the retirement income security of all Americans for the 21st century.
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1 Resolved by the Senate and House of Representatives

2 of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This joint resolution may be cited as the ‘‘Social Se5 curity Guarantee Initiative’’.

6 SEC. 2. FINDINGS.

7 The Congress finds that—

8 (1) the Social Security program provides bene9 fits to 44,000,000 Americans, including more than

10 27,000,000 retirees, 5,000,000 people with disabil11 ities, and 2,000,000 surviving children, and is essen12 tial to the dignity and security of the Nation’s elder13 ly, disabled, and their families;

14 (2) the Social Security program’s progressive

15 benefit structure is of particular importance to

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

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

18 inflation-adjusted benefits a critical income support

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

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

21 stemming in part from their lower incomes and their

22 spending an average of 11 years out of the paid

23 workforce caring for families;

24 (3) the approaching retirement of the Baby

25 Boom Generation will result in the Social Security
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1 program’s benefit costs exceeding its tax revenues

2 beginning in 2013;

3 (4) the Social Security program faces looming

4 insolvency and instability in the next century so that

5 by 2032 the Social Security Trust Funds will be

6 fully depleted and the program will be able to honor

7 less than 75 percent of benefit commitments; and

8 (5) prompt action is necessary to restore Ameri9 cans’ confidence that their retirement benefits will

10 be protected.

11 SEC. 3. SENSE OF THE CONGRESS.

12 The President and the Congress should join in

13 strengthening the Social Security program and protecting

14 the retirement income security of all Americans for the

15 21st century in a manner that—

16 (1) ensures equal treatment across generations

17 to all Americans, especially minorities and other low18 income workers;

19 (2) recognizes the unique obstacles that women

20 face in ensuring retirement, disability, and survivor

21 security and the essential role that the Social Secu22 rity program plays in protecting financial stability

23 for women;
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1 (3) provides a continuous benefit safety net for

2 workers, their survivors, their dependents, and indi3 viduals with disabilities;

4 (4) protects guaranteed lifetime benefits, in5 cluding cost-of-living adjustments that fully index

6 for inflation, for current and future retirees; and

7 (5) does not increase taxes.

Passed the House of Representatives March 2,

1999.

Attest:

Clerk.