[Congressional Record (Bound Edition), Volume 151 (2005), Part 7]
[House]
[Pages 9932-9933]
[From the U.S. Government Publishing Office, www.gpo.gov]




                         SOCIAL SECURITY REFORM

  The SPEAKER pro tempore. Pursuant to the order of the House of 
January 4, 2005, the gentleman from Indiana (Mr. Pence) is recognized 
during morning hour debates for 5 minutes.

[[Page 9933]]


  Mr. PENCE. Mr. Speaker, last year President Bush put Social Security 
reform on the national agenda. His proposal to save Social Security by 
giving younger Americans the choice to choose personal savings accounts 
has been met, to date, by ridicule and silence by the loyal opposition 
in this Congress. The ridicule has taken a variety of forms, denouncing 
the President's motives and intentions. The intentions of Republicans 
have been described by some outside organizations as an effort to tear 
down the house of public retirement in America.
  Beyond that slur, there has just been, to date, simply silence. No 
ideas, no counterproposals, nothing to deal with what many refer to as 
a generational tsunami heading for Social Security, as some 40 million 
Americans over the age of 65 within 20 years will become 80 million 
Americans over the age of 65.
  I say silence with hesitation, Mr. Speaker, because that actually 
ended yesterday among the loyal opposition when the gentleman from 
Florida (Mr. Wexler) introduced his legislation at a press event in his 
home State, where he unveiled a bill which he described as Social 
Security forever, saying, admirably, ``I believe it is time for 
Democrats to offer an alternative to the President.''
  And to the gentleman from Florida, I say with admiration, I could not 
agree more. I admire him for his leadership on behalf of his vision of 
government and also his honesty as he proposes to cure what ails Social 
Security in the next 50 to 75 years with that anecdote that Democrats 
run to most often, and that is, namely, higher taxes. The Wexler bill, 
with a 6 percent tax increase on income over $90,000 a year would be 
the largest marginal tax rate increase in a generation.
  Let us be clear about this, Mr. Speaker. House conservatives will 
vigorously oppose any effort to finance Social Security reform by 
raising taxes on working families, small businesses, and family farms. 
Thanks to the Wexler proposal, the American people now see a very clear 
choice before them, the President and the Republican Congress's vision 
for reform and the single Democrat vision that has been articulated, 
higher taxes. With one of the largest marginal tax increases in a 
generation, the gentleman from Florida (Mr. Wexler's) Social Security 
forever bill looks more like higher taxes forever.
  It is time for this Congress to move on to the substance of Social 
Security reform. Let us offer our conflicting visions in this chamber 
across the aisle and move forward to save and secure and reform Social 
Security for our children and our grandchildren.

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