Full Text of HR0128 94th General Assembly
HR0128 94TH GENERAL ASSEMBLY
|
|
|
HR0128 |
|
LRB094 09358 CSA 41070 r |
|
| 1 |
| HOUSE RESOLUTION
| 2 |
| WHEREAS, Social Security provides a guaranteed lifetime | 3 |
| benefit for retirees, the disabled, and families who have lost | 4 |
| a breadwinner; and
| 5 |
| WHEREAS, Two-thirds of all retirees depend on Social | 6 |
| Security for at least half their income; and
| 7 |
| WHEREAS, The decline of private pension benefits makes | 8 |
| Social Security even more important to future retirees; and
| 9 |
| WHEREAS, Social Security provides essential protection | 10 |
| against investment losses, illness, reduced income, and other | 11 |
| life events that undermine a secure retirement; and
| 12 |
| WHEREAS, Social Security does not face an immediate crisis | 13 |
| and is fundamentally sound in principle; and
| 14 |
| WHEREAS, Only modest adjustments are needed to keep Social | 15 |
| Security healthy through the end of this century; and
| 16 |
| WHEREAS, Carving private accounts out of the Social | 17 |
| Security program will result in benefit cuts of up to 46 | 18 |
| percent; and
| 19 |
| WHEREAS, Diverting Social Security funds into private | 20 |
| accounts will create a massive shortfall in the program's | 21 |
| finances; and
| 22 |
| WHEREAS, Private accounts will undermine the financial | 23 |
| security of all Americans by reducing guaranteed benefits in | 24 |
| the event of retirement, disability, or the loss of a wage | 25 |
| earner; and
| 26 |
| WHEREAS, Private accounts will increase the deficit by |
|
|
|
HR0128 |
- 2 - |
LRB094 09358 CSA 41070 r |
|
| 1 |
| trillions of dollars, thus undermining the economy; therefore, | 2 |
| be it
| 3 |
| RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 4 |
| NINETY-FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 5 |
| we call upon the United States Congress to maintain Social | 6 |
| Security as a program of guaranteed benefits, to reject private | 7 |
| accounts carved out of Social Security, and to reject Social | 8 |
| Security changes that will reduce benefits or increase the | 9 |
| deficit; and be it further
| 10 |
| RESOLVED, That a copy of this resolution be sent to the | 11 |
| President of the United States, each member of the Illinois | 12 |
| Congressional delegation, the Speaker of the United States | 13 |
| House of Representatives, and the President of the United | 14 |
| States Senate.
|
|