05 LC 34
0165
House
Resolution 63
By:
Representatives Mills of the
25th
and O`Neal of the
146th
A
RESOLUTION
Requesting
that the congressional delegation of the State of Georgia work to pass social
security personal retirement accounts; and for other purposes.
WHEREAS,
demographic changes and cost increases will drain the existing social security
system; and
WHEREAS,
without significant changes to the system, costs will exceed revenues starting
in 2018 and the system will not be able to pay any benefits by 2042;
and
WHEREAS,
not reforming the system will require a tax increase on every working American
or a benefit cut; and
WHEREAS,
allowing younger workers to invest a portion of their income in personal
retirement accounts will keep the social security system solvent;
and
WHEREAS,
allowing younger workers to invest a portion of their income in personal
retirement accounts will avoid any reduction of benefits and/or tax increase;
and
WHEREAS,
allowing younger workers to invest a portion of their income in personal
retirement accounts will provide additional savings to younger workers for
greater retirement security.
NOW,
THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES that this body hereby
urges our elected Representatives and Senators in the United States Congress to
support no increases in payroll taxes, no cuts to social security benefits, and
optional social security personal retirement accounts.
BE
IT FURTHER RESOLVED that the Clerk of the House is authorized and directed to
transmit appropriate copies of this resolution to the congressional delegation
of the State of Georgia.