[Congressional Record Volume 141, Number 2 (Thursday, January 5, 1995)]
[House]
[Page H132]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


             INTRODUCTION OF THE SENIOR CITIZENS EQUITY ACT

  (Mr. HASTERT asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. HASTERT. Mr. Speaker, yesterday, I along with Representative 
Bunning, Representative Kelly, Representative Thurman, and over 100 
others introduced the Senior Citizens Equity Act, 1 of the 10 pieces of 
legislation proposed as part of the Contract With America.
  The Senior Citizens Equity Act recognizes that it is time we change 
our laws so that our Nation's seniors are treated fairly.
  First, this legislation sharply curtails the impact of the Social 
Security earnings limitation on our seniors who continue to remain 
productive in the workplace. For far too long we have penalized working 
seniors who earn little more than minimum wage, by taxing them at rates 
higher than those of millionaires. It is time that we ease this burden 
for those seniors who need to work to supplement their pension and 
Social Security income.
  This bill would also repeal the $25 billion tax increase on seniors 
that was approved by the last Congress. That new tax imposed 
exorbitantly high income tax rates on senior citizens simply because 
they drew Social Security benefits and earned as little as $34,000 a 
year. It also set a dangerous precedent. For the first time in the 
history of the Social Security Program, Social Security funds were 
directly tapped to pay for Government programs.
  Some argue that we cannot repeal this tax because it will increase 
the deficit. But Americans know that the Federal budget deficit is not 
the result of them paying too little in taxes--but rather, it is the 
result of the Government wasting too much.
  Finally, this bill includes provisions that enables Americans and 
their employers to make their own preparations for future long-term 
care--and to do so without the Federal Government taxing the money set 
aside for that purpose. The costs of long-term care are high and it is 
time that Congress begin to help Americans prepare for the future.
  Mr. Speaker, I commend this legislation to the attention of my 
colleagues and urge its quick discussion and adoption. The senior 
citizens of this country deserve no less.


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