Bipartisan Congressional Letter Calls for Bush to Allocate Funds for Social Security Reform

November 19, 2003

In a letter addressed to President Bush, members of Congress urge that preparations for Social Security reform must be accounted for in his fiscal year 2005 budget. This, they write, will move the debate past opposition rhetoric regarding transition funding and the historical spending of Social Security surpluses. Rep. Jim DeMint (R-S.C.), Rep. Charlie Stenholm (D-Tex.), and other confirmed supporters of individual accounts write:

Dear Mr. President,

In your State of the Union Address this year, you said, "This country has many challenges. We will not deny, we will not ignore, we will not pass along our problems to other Congresses, other presidents, and other generations. We will confront them with focus, and clarity, and courage."

We share your commitment to addressing the important issues facing the American people, and like you we believe Social Security ranks as one of the highest. When you established your commission to strengthen Social Security, you helped move the debate forward. Now we must take the next steps in advancing Social Security reform.

As you know, the fiscal implications of any Social Security reform proposal will always be a central issue, and during a time of federal deficits this concern is more important than ever. For this reason, we must begin to budget for reform of the Social Security system.

Specifically in addition to ensuring that surplus Social Security taxes stay within the Social Security system, we ask that you include a reserve fund for Social Security reform in the budget you will submit to Congress for fiscal year 2005. This money must be used solely for legislation that fundamentally addresses the long-term problems associated with the current system. Absent reform this fund could not be used to reduce payroll taxes, increase benefits, or make minor changes. In the same way Congress budgeted money for Medicare reform, dedicating a portion of the federal budget for Social Security reform will help advance debate on this issue and move it to the forefront of domestic policy issues.

While we may not agree on the details of how to reform the current Social Security system, we all agree about the urgency of this issue and the need to address it immediately. Including a reserve fund in your budget could provide some additional guidelines for a serious discussion about options for reform. These guidelines would be one more step in helping build consensus.

Thank you for your attention to this pressing matter. We look forward to working with you on crafting a budget that meets the needs of America's working families and legislation to provide real retirement security to America's workers.

2005 Index | 2004 Index
2003 Index | 2002 Index | 2001 Index
2000 Index | 1999 Index | 1998 Index