Social Security is a retirement-security program that has, over the years, provided vital assistance to millions of American seniors, as well as to disabled persons and the families of workers who have passed away.
I believe that promises of retirement assistance must be kept and have fought against measures, like the 1993 Social Security tax hike, that erode seniors’ benefits. In February, I voted for an amendment to suspend that tax increase for the remainder of the year, but that amendment was rejected by a vote of 39 to 57. Previous efforts to repeal the 1993 tax increase on Social Security benefits have also been defeated in the Senate.
I have also cosponsored measures in the past that would allow seniors who choose to keep working after they retire to do so without penalty under the so-called Social Security earnings limitation. Legislation to repeal the limit for seniors over age 65 was enacted in 2000.
Of course, keeping Social Security’s promise is especially important to us in Arizona, since an estimated 960,000 senior citizens in the state rely on Social Security benefits. That is more than 15 percent of the state’s population.
The problem is, by 2017, the Social Security system is expected to begin paying out more in benefits than it receives in payroll taxes. And if nothing is done to address this imbalance, Social Security’s promise of retirement security will be jeopardized.
The President and Congress must act soon to head off this crisis. Doing so will require bipartisan consensus and broad-based public support, which will only come about if reform proposals abide by some fundamental principles, first and foremost that the benefits of those who are currently retired or nearing retirement are kept safe. I believe that the participation of those who are at or near retirement should continue unchanged.
I also believe that, in addition to protecting current and near retirees from changes in benefits, initiatives to preserve and protect Social Security must (1) reduce pressure on future taxpayers and on other budgetary priorities; (2) provide benefit levels that adequately reflect individual contributions to the system; and (3) preserve and strengthen the safety net for vulnerable populations, including the disabled and survivors. These are principles I’ve voted to uphold.
