[Congressional Record (Bound Edition), Volume 145 (1999), Part 9]
[House]
[Page 12438]
[From the U.S. Government Publishing Office, www.gpo.gov]



              KOLBE-STENHOLM SOCIAL SECURITY PLAN ON WOMEN

  (Mr. KOLBE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. KOLBE. Madam Speaker, my colleague the gentleman from Texas (Mr. 
Charlie Stenholm) and I have introduced a comprehensive Social Security 
reform legislation, H.R. 1793, and I want to talk today about some of 
the provisions that are in this bill. Today, I want to concentrate on 
those dealing with women.
  Our bill contains a minimum benefit provision that would provide a 
more robust benefit than afforded by the current system. For an 
individual who works 40 years, we guarantee them a Social Security 
benefit equal to 100 percent of the poverty level. And as a result of 
that provision alone, 50 percent of women will get more retirement 
benefits under the Kolbe-Stenholm plan than under current law.
  Our plan also allows workers to contribute an additional $2,000 per 
year into their personal account. Women expected to take time off to 
raise children can make voluntary contributions both before and after 
their hiatus to catch up. For women who earn less than $30,000, the 
Kolbe-Stenholm plan provides a savings subsidy for up to $600 per year.
  One of the reasons our bill is better for women is the changing 
nature of divorce. Not only has the divorce rate skyrocketed, but 
marriages are not lasting as long and more and more women are not 
remarrying. Consequently, more and more women are heading into 
retirement alone without the benefit of a spouse's Social Security 
income.
  As more women are raising children alone, working in lower-paying 
jobs, or not remarrying after divorce, the minimum benefit provision, 
the ability to catch up for lost years and the savings subsidy will do 
more to lift those women out of poverty.

                          ____________________