[Congressional Record Volume 151, Number 104 (Wednesday, July 27, 2005)]
[House]
[Page H6655]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




GOP SOCIAL SECURITY PLAN CUTS BENEFITS AND CONTINUES TO RAID THE SOCIAL 
                          SECURITY TRUST FUND

  (Ms. EDDIE BERNICE JOHNSON of Texas asked and was given permission to 
address the House for 1 minute.
  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, last month a few 
congressional Republicans unveiled a Social Security privatization plan 
that cuts guaranteed Social Security benefits and continues to raid the 
Social Security Trust Fund.
  The Republican majority's Social Security plan includes a 
privatization tax that would cut guaranteed benefits for the people who 
need it most. This effectively replaces part of our guaranteed benefit 
with a private account and leaves us worse off, depending on the whims 
of the stock market. And anybody who has had stock during the last 2 
years knows what that is.
  Then, instead of protecting the Social Security Trust Fund, the 
Republican majority plans to take money out of the trust fund to pay 
for private accounts. The same congressional Republicans will raid $670 
billion more from the Social Security Trust Fund to pay for tax breaks 
for the wealthy.
  Mr. Speaker, we cannot continue this same type of abuse. We urge all 
of the Members to look twice at Social Security and save it for the 
people.

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