[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 340 Introduced in House (IH)]







105th CONGRESS
  2d Session
H. RES. 340

Expressing the sense of the House of Representatives that any budgetary 
surplus achieved by the end of fiscal year 2002 be saved for investment 
                    in the Social Security Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 1998

Mr. Pascrell submitted the following resolution; which was referred to 
 the Committee on the Budget, and in addition to the Committee on Ways 
 and Means, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                               RESOLUTION


 
Expressing the sense of the House of Representatives that any budgetary 
surplus achieved by the end of fiscal year 2002 be saved for investment 
                    in the Social Security Program.

Whereas the old-age, survivors, and disability insurance program under title II 
        of the Social Security Act has drastically reduced the rate of poverty 
        among seniors, and, if such program did not exist, the rate of poverty 
        among seniors would be 54 percent rather than the current rate of 12 
        percent;
Whereas the Board of Trustees of the Federal Old-Age and Survivors Insurance 
        Trust Fund estimates that the Trust Fund will become insolvent by the 
        year 2029;
Whereas the number of people over age 65 will double by the year 2025;
Whereas the number of workers whose taxes will finance their social security 
        benefits is projected to grow by only 17 percent;
Whereas the ratio of workers to recipients is projected to fall from 3.2 to 1 
        today to 2.0 to 1 in the year 2030; and
Whereas the House of Representatives has a responsibility to address the 
        solvency issues facing the old-age, survivors, and disability insurance 
        program under title II of the Social Security Act: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives that 
any budget surplus that is achieved between now and the end of fiscal 
year 2002 should not be spent, but rather it should be saved for 
investment in the old-age, survivors, and disability insurance program 
under title II of the Social Security Act.
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