H. Con. Res. 84—49
population is 65 or older and by 2030, 20 percent of the popu-
lation will be 65 or older. More than 1⁄2 of the elderly do
not receive private pensions and more than 1⁄3 have no income
from assets.
(2) For 60 percent of all senior citizens, Social Security
benefits provide almost 80 percent of their retirement income.
For 80 percent of all senior citizens, Social Security benefits
provide over 50 percent of their retirement income.
(3) Poverty rates among the elderly are at the lowest level
since the United States began to keep poverty statistics, due
in large part to the Social Security system.
(4) Seventy-eight percent of Americans pay more in payroll
taxes than they do in income taxes.
(5) According to the 1997 report of the Managing Trustee
for the Social Security Trust Funds, the accumulated balance
in the Federal Old-Age and Survivors Insurance Trust Fund
is estimated to fall to zero by 2029, and the estimated payroll
tax at that time will be sufficient to cover only 75 percent
of the benefits owed to retirees at that time.
(6) The average American retiring in the year 2015 will
pay $250,000 in payroll taxes over the course of his or her
working career.
(b) SENSE OF THE SENATE.—It is the sense of the Senate that
the provisions of this resolution assume that no change in the
Social Security system should be made that would reduce the value
of the Social Security system for future generations of retirees.
SEC. 341. SENSE OF THE SENATE ON ECONOMIC GROWTH DIVIDEND
PROTECTION.
(a) FINDINGS.—The Senate finds that with respect to the
revenue levels established under this resolution—
(1) according to the President’s own economists, the tax
burden on Americans is the highest ever at 31.7 percent;
(2) according to the National Taxpayers Union, the average
American family now pays almost 40 percent of their income
in State, local, and Federal taxes;
(3) between 1978 and 1985, while the top marginal rate
on capital gains was cut almost in half—from 35 to 20 percent—
total annual Federal receipts from the tax almost tripled from
$9,100,000,000 annually to $26,500,000,000 annually;
(4) conversely, when Congress raised the rate in 1986,
revenues actually fell well below what was anticipated;
(5) economists across-the-board predict that cutting the
capital gains rate will result in a revenue windfall for the
Treasury; and
(6) while a USA Today poll from this March found 70
percent of the American people believe that they need a tax
cut, under this resolution Federal spending will grow 17 percent
over five years while the net tax cuts are less than 1 percent
of the total tax burden.
(b) SENSE
OF SENATE.—It is the sense of the Senate that
with respect to the revenue levels established under this resolution,
to the extent that actual revenues exceed the revenues projected
under this resolution due to higher than anticipated economic
growth, that revenue windfall should be reserved exclusively for
additional tax cuts and/or deficit reduction.
H. Con. Res. 84—50
SEC. 342. SENSE OF THE SENATE SUPPORTING FEDERAL, STATE, AND
LOCAL LAW ENFORCEMENT OFFICERS.
(a) FINDINGS.—The Senate makes the following findings:
(1) Our Federal, State, and local law enforcement officers
provide essential services that preserve and protect our free-
doms and security, and with the support of Federal assistance,
State and local law enforcement officers have succeeded in
reducing the national scourge of violent crime, as illustrated
by a murder rate in 1996 that is projected to be the lowest
since 1971 and a violent crime total in 1996 that is the lowest
since 1990.
(2) Through a comprehensive effort to attack violence
against women mounted by State and local law enforcement,
and dedicated volunteers and professionals who provide victim
services, shelter, counseling, and advocacy to battered women
and their children, important strides have been made against
the national scourge of violence against women, illustrated
by the decline in the murder rate for wives, ex-wives, and
girlfriends at the hands of their ‘‘intimates’’ fell to a 19-year
low in 1995.
(3) Federal, State, and local law enforcement efforts need
continued financial commitment from the Federal Government
for funding and financial assistance to continue their efforts
to combat violent crime and violence against women.
(4) Federal, State and local law enforcement also face other
challenges which require continued financial commitment from
the Federal Government, including regaining control over the
Southwest Border, where drug trafficking and illegal immigra-
tion continue to threaten public safety and menace residents
on the border and throughout the Nation.
(5) The Violent Crime Reduction Trust Fund established
in section 310001 the Violent Crime Control and Law Enforce-
ment Act of 1994 (42 U.S.C. 14211) fully funds the Violent
Crime Control and Law Enforcement Act of 1994, including
the Violence Against Women Act, without adding to the Federal
budget deficit.
(b) SENSE OF THE SENATE.—It is the sense of the Senate that
the provisions and the functional totals underlying this resolution
assume that—
(1) the Federal Government’s commitment to fund Federal
law enforcement programs and programs to assist State and
local efforts to combat violent crime, including violence against
women, will be maintained; and
(2) funding for the Violent Crime Reduction program will
continue as authorized by the Violent Crime Control and Law
Enforcement Act of 1994.
H. Con. Res. 84—51
SEC. 343. SENSE OF THE SENATE REGARDING PARENTAL INVOLVE-
MENT IN PREVENTION OF DRUG USE BY CHILDREN.
It is the sense of the Senate that the provisions of this resolu-
tion assume that, from resources available in this budget resolution,
a portion should be set aside for a national grassroots volunteer
effort to encourage parental education and involvement in youth
drug prevention and to create a drug-intolerant culture for our
children.
Attest:
Clerk of the House of Representatives.
Attest:
Secretary of the Senate.