[Congressional Record Volume 148, Number 34 (Thursday, March 21, 2002)]
[Extensions of Remarks]
[Page E438]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      BRING SOCIAL SECURITY PRIVATIZATION TO THE FLOOR FOR DEBATE

                                 ______
                                 

                         HON. ROBERT T. MATSUI

                             of california

                    in the house of representatives

                       Wednesday, March 20, 2002

  Mr. MATSUI. Mr. Speaker, last year the President convened a special, 
hand-picked commission to study Social Security reform. Unfortunately, 
the commission was comprised entirely of those who support private 
accounts as a precondition to any reform proposals they might consider. 
In December 2001, the commission disbanded after releasing a report in 
which it detailed three privatization options, each of which cuts 
benefits and requires massive general revenue transfers to finance 
private accounts.
  President Bush continues to advocate these untested privatization 
plans as the single solution to Social Security's future financing 
challenges, but he has thus far been unwilling to submit these schemes 
to the rigors of the legislative process of advocacy, testimony, and 
amendment. If these plans are indeed credible options, they should be 
treated as such. They should be marked up in the House Ways and Means 
Committee and brought as soon as possible to the House floor for debate 
and a vote. Should any one of the measures prove feasible or desirable, 
it would subsequently be sent to the Other Body for additional debate 
and votes. Should both houses agree, the legislation would then be sent 
to the President of the United States for his signature or veto.
  Sadly, it appears unlikely that Social Security privatization will 
follow this rational and democratic course. The Republicans refuse to 
place this issue on the agenda. They have scheduled no markups, no 
debate, and no votes on what will be a radical change to the most 
successful program in American history. Meanwhile, the President has 
indicated that he intends to move forward with these proposals next 
year.
  Mr. Speaker, Social Security is a critically important program for 
millions in America, and the American people deserve an honest debate 
on these proposals now. That is why I am introducing this legislation. 
It is the only way the American people will get the debate they 
deserve.
  Simply put, if neither the President nor the Republican majority in 
the House will submit the President's privatization plans to the light 
of day, others will be forced to do it for them. It is with a sincere 
hope for an open and fair debate that I introduce this legislation to 
the House of Representatives. I now call on the Republican majority to 
bring this legislation to the floor.

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