Report Title:

Requesting the Congressional Delegation of the State of Hawaii Support President Bush's Social Security Reform Proposal

WHEREAS, the Social Security program must be strengthened to survive; and

WHEREAS, all Social Security benefits for today's seniors must be protected and Social Security must be available for their grandchildren; and

WHEREAS, when Social Security began, there were 42 workers to support each retiree; in a few decades there will be only 2 workers per retiree. As a result, Social Security benefits will exceed contributions beginning in 2015 and the system will go bankrupt in 2037; and

WHEREAS, under President Bush's plan, Social Security contributions will earn a higher rate of return, allowing the system to survive without a massive tax increase; and

WHEREAS, under President Bush's plan, personal accounts will allow everyone to build assets and independence; and

WHEREAS, under President Bush's plan, current Social Security benefits will not change for retirees or near-retirees; and

WHEREAS, under President Bush's plan, Social Security taxes will not be increased; and

WHEREAS, President Bush's plan will preserve the disability and survivors components of Social Security; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-first Legislature of the State of Hawaii, Regular Session of 2001, requests our elected representatives in the United States Congress support and work to pass the Social Security reform introduced by President Bush; and

BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to the members of Hawaii's delegation to the Congress of the United States.