Strengthening Social Security

25 January 2005

Dear Mr. President,

As Congress comes back into session and prepares to work on the Agenda set forth during the campaign and in yesterday's press conference I strongly encourage you to chose the legislative language for priority S.1 at the soonest date possible. I know you and your staff have been studying the six proposals drawn up in the last Congress and since you want to lead on this issue, you need to give Congress the necessary direction by reccommending legislative language.

I have made it clear that I strongly support the language of the Social Security Solvency and Modernization Act S. 1878, 108th Congress) as proposed by Sen. Lindsey O. Graham of South Carolina. I still maintian that the language in this proposal is the

best the Congress has to offer. The proposal meets and exceeds your goals. It dies not cut the benefits of today's seniors, it gives the future beneficiareies starting at age 54 a choice between options 2 & 3, and it grants younger workers the ability to invest some of their payroll tax deduction in a private investment account. It also increases Survivors benefits.

I also think that it is a great idea that we redirect the income taxed under Social Security back into the system. I also beleive that Sen. Graham's idea of an increase in how much income is taxable for Social Security purposes is a good idea.

His proposal provides a mechanism by which this and other changes will be reviewed, so when there comes a time to discuss recung the cap again it will go to the commission. Closing the loopholes for Corporate individuals is also a good idea and falls under the perview of the commission. He also provides a number of other failsafe review procedures in the proposal. The final good thing is that the proposal also calls fro a strengthening of programs that would educate people about finances.

Based on the reasons outlined aboe I strongly urge you to select Sen. Graham's plan as the legislative text for S.1. The Senate is waiting for your leadership. Please lead. Choose or allow the congress to lead and choose the language.

Thank you for your time.

White House > News & Policies > Policies in Focus > Social Security

Lindsey Graham US Senator for South Carolina: Issues: Social Security

Introduction of the Social Security Solvency and Modernization Act

Congressional Record: S15061S3935, S3936,

S3937

, S3938, S3939, S3940, S3943, S3945, S3947

S. 1878 Social Security Solvency and Modernization Act of 2003 [PDF]

A bill to amend title II of the Social Security Act to preserve and

strengthen the Social Security program through the creation of personal

retirement accounts funded by employer and employee Social Security

payroll deductions, to restore the solvency of the old-age survivors,

and disability insurance programs, and for other purposes.

Social Security Solvency and Modernization Act Summary Sheet

Congressional Budget Office: Long-Term Analysis of Plan 2 of hte President's Commission to Strengthen Social Security

Social Security Administration: Estimated

OASDI Financial Effects of "Social Security Solvency and Modernization

Act of 2003" introduced by Senator Lindsey Graham--INFORMATION

News

The State: Graham, his plan may shape overhaul

The State: Graham's Plan

The State: Graham focuses the Senate on Social Security

The State: Graham's Social Security policy attacked

Commentary

Illinois Leader: Sen. Lindsey Graham has the best plan for Social Security reform

Thinktanks & Interst Groups

Cato Institute Project on Social Security Choice: Social Security Reform Group Praises Graham Bill

Centrists.org: A Preliminary Analysis of Sen. Graham's Social Security Proposal

Centrist Policy Network: Sen. Lindsey Graham's Social Security Reform Proposal (S. 1878)