Congresswoman Nancy Pelosi

Pelosi: Permanent Tax Cuts Would Raid Social Security

April 18, 2002



House Democratic Whip Nancy Pelosi gave the following statement on the House floor this afternoon during debate on H.R. 586, Permanently Extending Last Year's Tax Cuts, which passed the House by a vote of 229-198.

Mr. Speaker, I rise in opposition to the Republican raid on Social Security that is being made on the floor of the House today.

If we support Social Security as we know it today, which includes benefits for America’s retiring citizens, we must vote no on this plan to make these tax breaks permanent.

Earlier today, our body had the opportunity to vote for a resolution put forth by the gentleman from Illinois [David Phelps]. It said that these tax cuts could go forward and be made permanent if the Congressional Budget Office certified that no Social Security funds would be used to cover them.

Every single Republican voted against that. Every Democrat voted for it. One has to wonder where all of the Republican deficit hawks have gone. It seems they have become an endangered species.

I think it is very, very important to vote that the only way to reconcile what the Republicans are doing is that they want the surplus to be reduced, and they want to change Social Security.

They want to enact the huge cuts in benefits that President Bush’s commission call for. That is the only way it would add up. I urge my colleagues to vote no.