Please Consider Social Security Reform

8 December 2005

I understand your reluctance to support private accounts within social security. However I contact you today with three requests.

First, as ranking member of the Finance Committee, please do not support any resolution that stops the consideration of legislation on reform proposals that include private accounts. These proposals deserve an up or down vote in committee as well as on the floor.

Secondly, I strongly urge you to look specifically at the proposal of Sen. Lindsey Graham because it is comprehensive and very well written. It does include private accounts as an option for workers under age 54, but does not require individuals to have an account. It actually gives two other options as well, both of which provide full benefits and niether of which includes a private account. There is also provisions to creata a commission to Strengthen Financial Education Programs, which would allow citizens to recive education regarding these options.

I understand that another concern about these proposals is how we will fund the transition costs. Under Graham's Plan the $1.1 trillion transition costs would be funded by increasing the amount of income subject to Social Security taxes from $87,500 to $150,000 for between 12-15 years or until the system is deemed solvent. Another part of the financing would come from closing corporate tax loopholes. This, in my opinion, is fiscally responsible and represents a sacrifice for Republicans.

Finally, after studying the proposal and talking to Sen. Graham I ask that you consider co-sponsoship.

In closing, Sen. Graham is willing to place his political future on the line to achieve Social Security Reform. I request that you do the same because I want my generation to recieve benefits when it is time and I am in the generation that will be a part of the short fall when it occurs. My generation may even face the prospect of not recieving any benefits.

Sen. Graham would not do anyhting to harm Social Security, for which he is thankful, because without it his sister would have found it hard to survive after their parents passed away. He wants to make the system work for all generations and his proposal does this without passing the costs along.

Please work with Sen. Graham on this important subject.

Thank you.

Sent E-mails to Sens. Baucus, Conrad, Nelson (FL), and Nelson (NE)