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TO MEMORIALIZE THE CONGRESS OF THE UNITED STATES TO MODIFY THE FEDERAL INTERNAL REVENUE CODE TO ALLOW RETIREES TO PAY FOR HEALTH CARE COSTS ON A PRE-TAX BASIS.
Whereas, health care costs are rising dramatically each year; and
Whereas, many state and local governments, including the State of South Carolina, provide health insurance programs for both their employees and retirees; and
Whereas, these programs allow employees and retirees access to health care at a reasonable cost; and
Whereas, some of the programs allow employees to pay for their health insurance premiums and other medical expenses on a pre-tax basis through cafeteria plans or flexible spending accounts, as authorized by the federal Internal Revenue Code; and
Whereas, current federal law fails to provide the same mechanism for retirees to pay for their health insurance premiums and other medical expenses on a pre-tax basis; and
Whereas, retirees on a fixed budget are disproportionately affected by rising health care costs; and
Whereas, this disparity of tax treatment between employees and retirees violates simple notions of fairness; and
Whereas, Representative Rob Portman and Representative Ben Cardin intend to introduce the Pension Preservation and Savings Expansion Act of 2003 in the United States Congress; and
Whereas, the proposed Pension Preservation and Savings Expansion Act of 2003 contains a provision modifying the federal Internal Revenue Code so that retirees may pay for health insurance and other medical expenses on a pre-tax basis. Now, therefore,
Be it resolved by the House of Representatives, the Senate concurring:
That the members of the General Assembly, by this resolution, memorialize the Congress of the United States to modify the federal Internal Revenue Code so that retirees may pay for health insurance premiums and other medical expenses on a pre-tax basis.
Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.
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