As a member of the U.S. Bipartisan Commission on Entitlement and Tax Reform and the House Public Pension Reform Caucus, Congressman Castle has remained involved in finding innovative solutions to preserving the Social Security system. Taxpayers should be allowed to direct a portion of their Social Security payroll taxes into personal retirement accounts, and have substantial control over how that money is invested. These changes must be phased in, so that current and pending beneficiaries are not unduly affected by unanticipated changes to the system. Minimize transition costs and pay for them fairly. Transition costs should not be paid for by any one generation, but should be paid as broadly as possible.
Balance is important.
Congress should not make any decisions on spending a budget surplus unless retaining the solvency of the Social Security Trust Funds is considered.