Resolution To Strengthen, Improve, and Expand Social Security during its 80th Year

RESOLUTION 15-08.34L

Resolution To Strengthen, Improve, and Expand Social Security during its 80th Year

WHEREAS, August 14, 2015, is the 80th Anniversary of Social Security, and Social Security is the foundation of income for older Americans, families who have lost a spouse and/or parent, veterans, and those with severe work disabilities, and is the single most important source of life insurance protection for children; nearly 168 million workers contribute to Social Security through payroll taxes and 59 million people receive monthly Social Security benefits, including 41.9 million who receive retirement benefits, 6.1 million who receive survivors’ benefits, and 10.9 million who receive disability benefits, and for many Social Security is their sole source of money when they retire; and

WHEREAS, Social Security's funding is independent of the rest of the federal government, and has never contributed to, and, by law, can never contribute to the federal deficit, and in fact, the Social Security Trust Fund lends money to the federal government through the purchase of government bonds; and

WHEREAS, Social Security, in fact, has a surplus of $2.8 trillion dollars today that is expected to grow to $3.1 trillion dollars by 2020; and there are many policy options available to close any and all shortfalls to Social Security’s funding without cutting benefits, including eliminating the cap on earnings subject to the payroll tax, or raising the payroll tax rate from 6.2 to 7.2 percent gradually over 20 years;

THEREFORE, BE IT RESOLVED that the California Democratic Party celebrates the 80th Anniversary of Social Security by urging the President and the Congress of the United States to exclude Social Security from any cuts, and instead support House and Senate bills to strengthen, improve, and expand Social Security, and

BE IT FINALLY RESOLVED that the California Democratic Party transmits copies of this resolution to the President and Vice President of the United States, and to each Senator and Representative from California in the Congress of the United States.

Authored and Sponsored by Hene Kelly

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Adopted by the California Democratic Party
At its Summer/Fall 2015 E-board Meeting
Hyatt Regency
August 16, 2015

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