Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
Sponsors: Reps. W.D. Smith and Wilkins
Document Path: l:\council\bills\swb\5743sd04.doc
Introduced in the House on January 13, 2004
Adopted by the House on January 29, 2004
Summary: Memorialize Congress to not increase payroll tax, not decrease social security benefits and offer optional social security retirement accounts
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/13/2004 House Introduced HJ-94 1/13/2004 House Referred to Committee on Invitations and Memorial Resolutions HJ-95 1/20/2004 House Committee report: Favorable Invitations and Memorial Resolutions HJ-10 1/21/2004 House Debate adjourned HJ-18 1/22/2004 House Debate adjourned HJ-28 1/28/2004 House Debate adjourned HJ-21 1/29/2004 House Adopted HJ-31
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
January 20, 2004
S. Printed 1/20/04--H.
Read the first time January 13, 2004.
To whom was referred a House Resolution (H. 4484) to memorialize Congress of the United States to support no increases in payroll taxes, no cuts to Social Security benefits, and optional Social Security, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
ROBERT W. LEACH, SR. for Committee.
TO MEMORIALIZE CONGRESS OF THE UNITED STATES TO SUPPORT NO INCREASES IN PAYROLL TAXES, NO CUTS TO SOCIAL SECURITY BENEFITS, AND OPTIONAL SOCIAL SECURITY PERSONAL RETIREMENT ACCOUNTS.
Whereas, demographic changes and cost increases will drain the existing Social Security system; and
Whereas, without significant changes to the system, costs will exceed revenues starting in 2018 and the system will not be able to pay any benefits by 2042; and
Whereas, not reforming the system will require a fifty percent tax increase on every working American or a thirty percent benefit cut; and
Whereas, allowing younger workers to invest a portion of their income in personal retirement accounts will keep the Social Security system solvent; and
Whereas, allowing younger workers to invest a portion of their income in personal retirement accounts will avoid any benefit cuts and/or tax increases; and
Whereas, allowing younger workers to invest a portion of their income in personal retirement accounts will provide additional savings to younger workers for greater retirement security. Now, therefore,
Be it resolved by the House of Representatives:
That the members of the House of Representatives of the State of South Carolina, by this resolution, memorialize the Congress of the United States to support no increases in payroll taxes, no cuts to Social Security benefits, and optional Social Security Personal Retirement accounts.
Be it further resolved that a copy of this resolution be forwarded to the President of the United States, each member of the South Carolina Congressional Delegation, the President of the United States Senate, and the Speaker of the United States House of Representatives.
This web page was last updated on Monday, December 7, 2009 at 10:37 A.M.