Delaney, Cole Introduce Bipartisan Bill to Create Social Security Commission
Washington, D.C. – Congressman John K. Delaney (MD-6) and Congressman Tom Cole (OK-4) filed today the Social Security Commission Act of 2014. The legislation creates a bicameral and bipartisan commission that is modelled after the 1983 Social Security Commission. The Social Security Commission Act of 2014 is designed to bring both parties and both chambers together, in conjunction with the President, to find a solution that guarantees the long-term health of Social Security.
The non-partisan Congressional Budget Office has found that absent changes, Social Security will be unable to pay full benefits on its own by 2031. The text of the legislation is available here.
“By any measure, Social Security is one of the most successful programs in American history and I intend to keep it that way. In my view, this legislation has a simple and straightforward goal: protecting and preserving Social Security,” said Congressman Delaney. “I’m troubled by the irrefutable data before us: that if we don’t adjust the funding and other aspects of Social Security now, we will either need large benefit cuts down the road or risk crowding out other priorities. This is a question of preserving benefits. The Social Security Commission Act of 2014 creates a roadmap for avoiding this dilemma and ensuring benefits for generations of Americans. I’m honored to work with Congressman Cole, a true statesman, on this legislation.”
“Beginning with that very first job, usually by high school, every American contributes to Social Security. Throughout the entirety of working life, that deduction shows up on a person’s paycheck with the promise of some sort of future benefit,” said Congressman Cole. “Unfortunately, without immediate changes that modernize the current system, Social Security will not be able to follow through on that promise. I am pleased that this legislation seeks to find solutions that will not only benefit those at or close to retirement but also provide for our children and grandchildren that are currently paying into the system.”
The Delaney-Cole legislation would provide for the following:
• A 13 member commission, with 12 members appointed by leadership from both parties in the House and Senate (three appointees from each party’s leader in each chamber). Two of the Congressional appointees must be non-elected experts. The commission is chaired by the 13th appointee, named by the President.
• Within one year of their first meeting, the commission must report to Congress on the 75-year health of Social Security and provide recommendations for how to improve the program.
• The commission’s report must have a minimum of 9 votes, guaranteeing bipartisan consensus.
• The legislation based on the commission’s plan would then receive expedited consideration in Congress for an up or down vote.
Will McDonald (202) 225-2721 (Delaney)
Sarah Corley (202) 225-6165 (Cole)