[Congressional Record Volume 144, Number 133 (Tuesday, September 29, 1998)]
[Extensions of Remarks]
[Page E1846]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      TAXPAYER RELIEF ACT OF 1998

                                 ______
                                 

                               speech of

                        HON. PETER J. VISCLOSKY

                               of indiana

                    in the house of representatives

                      Saturday, September 26, 1998

  Mr. VISCLOSKY. Mr. Speaker, I rise today to give my support to 
protecting 100 percent of the Social Security Trust Fund, and not using 
any of the projected surplus for tax cuts at this time. For over sixty 
years, Social Security has stood as one of our Nation's greatest 
success stories, providing all Americans with a basic level of 
retirement security.
  Social Security is a contract between the citizens of the U.S. and 
their government. The people in this country are entitled to know that 
in retirement they will have security, live in dignity, and be provided 
with health care. Today, two-thirds of retirees in this nation depend 
upon Social Security to provide over half of their annual income. Our 
constituents should know that we, as the leaders of this country, are 
looking out for not only their future, but the future of their 
children. A vital requirement for protecting that future is saving 
Social Security first. Our constituents should be able to trust that 
their contributions to the Social Security Trust Fund are being used as 
intended.
  I am opposed to cutting Social Security in order to provide tax cuts 
to those with higher incomes. As lawmakers, we owe it to the country to 
provide for the long-term fiscal health of Social Security and other 
federal retirement programs, and to ensure that these programs are 
available to future generations of Americans without increasing the 
payroll tax.
  Some have suggested we should enact a series of major tax cuts in 
anticipation of the projected budget surplus. What these individuals 
neglect to point out is that almost all of the money to pay for their 
tax cuts would be drawn out of the Social Security Trust Fund and other 
federal trust funds--trust funds that should be preserved for their 
intended uses. The best tax cut we can give to the American family is a 
truly balanced federal budget. A balanced budget will lead to lower 
interest rates and strong economic growth. I am firmly committed to a 
balanced budget--a budget that protects Social Security for future 
generations.
  In closing, let me say that the question of how to approach any 
budget surplus is one of the most important issues facing this country. 
I believe we should resist calls to spend the projected surplus and 
consider our options very carefully. Balancing the federal budget and 
keeping it balanced should continue to be one of this country's top 
priorities, and you can be assured that I remain absolutely committed 
to accomplishing these goals. We owe it to our constituents, our 
children, and ourselves to save Social Security.

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