[Congressional Record (Bound Edition), Volume 159 (2013), Part 10]
[House]
[Pages 14070-14071]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  0915
                 STRENGTHENING THE SOCIAL SECURITY ACT

  (Mr. HOLT asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HOLT. Madam Speaker, Social Security is one of the most 
successful programs of the Federal Government. However, many Americans 
don't realize that the wealthy pay a lower rate on taxable income into 
Social Security.

[[Page 14071]]

  With Senator Harkin, Representative Linda Sanchez, along with many 
cosponsors, we have introduced legislation to scrap the wage cap on 
payroll taxes. Most Americans will, no doubt, think it is more fair 
that everyone pay the same rate, and the bill would stop the misguided 
claims that Social Security needs to be changed or scrapped.
  It would allow increased monthly benefits. It would also provide a 
cost-of-living allowance that better reflects the actual cost of living 
for seniors.
  I ask my colleagues to join us in this effort.

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