FOR IMMEDIATE RELEASE	CONTACT: Doug McGinn
May 13, 1999	(202) 225-3031

RYAN AND KASICH OFFER FREE-STANDING SOCIAL SECURITY "LOCK BOX" BILL

"This legislation fulfills the commitment we've made to our seniors by locking away 100 percent of all Social Security surpluses and payroll taxes for Social Security and Medicare."

WASHINGTON - First District Congressman Paul Ryan today announced that he has joined with House Budget Committee Chairman John Kasich to introduce free-standing legislation that would implement a guaranteed "lock box" on all payroll taxes and Social Security Trust funds.

Based on Ryan's earlier legislation that was incorporated in the FY 2000 federal budget, Social Security Surplus Protection and Debt Reduction Act would require the federal government to lock away 100 percent of all Social Security surpluses. While the earlier provision was incorporated in the budget, this legislation makes the "lock box" federal law.

The legislation was put forth as a necessary safeguard in case the President chooses to not sign the bipartisan budget resolution passed this year. In introducing the bill Ryan stated, "I am pursuing every legislative avenue to stop the continued raid on Social Security."

"This legislation fulfills the commitment we've made to our seniors by locking away 100 percent of all Social Security surpluses and payroll taxes for Social Security and Medicare. No more fancy accounting, no more gimmicks - this stops the raid on Social Security. This proposal prohibits future Congresses and administrations from using money that is designated for Social Security on non-related programs or to mask the true size of the federal deficit."

"Under the President's plan, fixing the Social Security program would be postponed, and, in lieu of any true reform, surplus funds would be directed towards new spending. The difference is clear: our proposal protects the paychecks of American workers and seniors, while the President's plan would spend billions to feed Washington's hunger for new and expanded government programs."

This legislation represents the House version of a bill sponsored in the Senate by Majority Trent Lott and Senators Pete Domenici and Spencer Abraham. For additional information, or to schedule an interview with Congressman Ryan, please contact Doug McGinn at (202) 225-3093.