Letter in Support of The Social Security Commission Act of 2014
The Social Security Trustees’ annual report makes clear that Congress must take action to restore long-term solvency to the program’s trust funds. To that end, we applaud Rep. John Delaney (D-MD) and Tom Cole (R-OK) for introducing the Social Security Commission Act of 2014.
July 28, 2014 The Honorable John Delaney The Honorable Tom Cole 1632 Longworth House Office Building 2458 Rayburn House Office Building Washington, DC 20515 Washington, DC 20515 Dear Congressmen Delaney and Cole: There is widespread recognition across the political spectrum that Social Security, on its current path, will be unable to pay full benefits to disabled beneficiaries in 2016 and to retired and survivors of American workers in 2034 (2033 under a combined Trust Funds scenario). For many American families, these would be catastrophic events. Moreover, allowing such possibilities to loom undermines a core purpose of Social Security: providing certainty and stability. That is why we are so pleased that you have introduced The Social Security Commission Act of 2014 (HR 4786). We understand that some may be wary of another commission. But Social Security’s last major fix, in 1983, was made possible by a commission, chaired by Alan Greenspan. Your legislation offers a transparent, inclusive, and politically viable path to a balanced solvency plan and a filibuster-‐proof up-‐ or-‐down-‐vote. Further, enacting a commission to fix Social Security would demonstrate that Congress is serious about protecting the middle class and making progress on our country’s most pressing issues. With The Social Security Commission Act of 2014, you have taken a critical first step forward showing that both parties can work together towards fixing America’s most important social insurance program. We urge members of Congress of both parties and the President to follow you and support HR 4786. Thank you for your leadership. Jim Kessler Senior Vice President for Policy Third Way Maya MacGuineas President The Committee for a Responsible Federal Budget Andrew Biggs Resident Scholar American Enterprise Institute Robert D. Atkinson President Information Technology and Innovation Foundation