FOR IMMEDIATE RELEASE CONTACT: Doug McGinn May 19, 1999 (202) 225-3031 RYAN HAILS PASSAGE OF Social Security "Lock Box" Bill
WASHINGTON - First District Congressman Paul Ryan today hailed passage of the Social Security and Medicare Safe Deposit Box Act, a bill that establishes procedural mechanisms known as "points of order" to prevent the House and Senate from considering any legislation that would attempt to use Social Security Trust funds. The legislation would require a separate vote in the House of Representatives and 60-vote super-majority in the Senate to proceed on such bills. "This bill, which complements the 'Lock Box' legislation I recently introduced, is a step in the right direction in our quest to end the raid on Social Security."
Ryan and Budget Committee Chairman John Kasich recently introduced legislation that goes further, making it against the law to ever use any payroll taxes for anything but Social Security or Medicare.
"This legislation is a necessary first step in locking away 100 percent of all Social Security Trust funds," said Ryan, a cosponsor of the legislation. "Anytime Congress attempts to raid the Social Security Trust fund they will now be on record explicitly showing their actions. This bill, which complements the 'Lock Box' legislation I recently introduced, is a step in the right direction in our quest to end the raid on Social Security."
"This bill will help end Congress' ability to use these funds for unrelated programs or to mask the true size of the federal deficit. We need to go further, however, to provide more enforcement measures that will make raiding the Social Security Trust fund against the law."
"The difference is clear: our proposal protects the paychecks of American workers and seniors, while the President and those who support his plan would spend billions to feed Washington's hunger for new and expanded government programs."
For additional information, or to schedule an interview with Congressman Ryan, please contact Doug McGinn at (202) 225-3093.