Tucson, AZ Urging US Congress to Reject Privatization of Social Security

Type: Resolution
Status: Failed adoption on 5/17/05
Vote: In Favor - 3 Opposed - 4
Source File: http://www.ci.tucson.az.us/clerks/minutes/2005/MN%2004-19-2005.pdf
Text:
RELATING TO SOCIAL SECURITY; URGING THE UNITED STATES CONGRESS TO REJECT THE PRIVATIZATION OF SOCIAL SECURITY AND TO RETAIN GUARANTEED BENEFIT LEVELS.
TO THE CONGRESS OF THE UNITED STATES:
YOUR MEMORIALIST RESPECTFULLY REPRESENTS AS FOLLOWS:
WHEREAS, Social Security provides crucial, and often
indispensable income protection for forty-seven million individuals with
one of every six Americans receiving benefits; and
WHEREAS, Social Security’s income protections of guaranteed,
lifelong benefits, cost-of-living adjustments to guard against inflation,
increased benefits for families, greater income replacement for
low-income workers, and disability and survivor benefits are the backbone
of retirement security and family protection in the United States; and
WHEREAS, Social Security is the nation’s most successful and
most important family income protection program, but has long-term
funding needs that must be addressed; and
WHEREAS some policymakers propose to address these needs by
draining resources from the Trust Fund into private accounts, thereby
increasing the federal deficit; and
WHEREAS, some policymakers have suggested that the federal
government not pay back the money that it has taken from the Social
Security Trust Fund over the past twenty years and used for other
purposes; and
WHEREAS, privatizing Social Security may cut guaranteed
benefits for young workers, thus denying benefits they have earned and
imperiling their economic security; and
WHEREAS, cutting guaranteed benefits will hurt the elderly
because Social Security is the only secure source of retirement income for
most Americans; and
WHEREAS, cutting guaranteed benefits will also hurt all people
who are likely to rely on Social Security for the majority of their
retirement income; and
WHEREAS, diverting resources from Social Security to fund
private accounts will threaten guaranteed survivor and disability benefits,
thus harming working families; and
WHEREAS, privatizing Social Security will burden state and local
governments, as cuts in guaranteed benefits will increase state and local
demands for public assistance;
NOW, THEREFORE, YOUR MEMORIALIST, THE MAYOR AND COUNCIL OF THE CITY OF TUCSON, ARIZONA, PRAYS:
# That the United States Congress commit to repaying the Social Security Trust Fund all of the money that has been borrowed from it and utilized for other purposes;
# That the United States Congress carefully study a variety of potential changes that will address Social Security’s problems while ensuring that the program will continue to meet its purpose of providing income protection and economic security for America’s families;
# That any changes adopted by Congress to the Social Security System strengthen Social Security’s family income protections without cutting guaranteed benefits or increasing the federal deficit; and
# That the United States Congress reject proposals to divert money out of Social Security to fund private retirement investment accounts.
# The City Clerk is authorized and directed to send a copy of the Memorial to each member of the Arizona Congressional Delegation.
Category:Arizona
Category:City Governments
Category:Resolutions
Category:Tax-Related