Issues List Committees Legislation Roll Call Vote 316 Hart Senate Office Building Washington, D.C. 20510 P: 202-224-4343 F: 202-228-1373 E-mail Me Social Security During my years in Congress, I have been actively involved in protecting and strengthening our Social Security system. In fact, I was Chairman of the Ways and Means Social Security Subcommittee while serving in the House of Representatives, and I currently serve on the Senate Finance Committee, which has jurisdiction over Social Security. It is critical that Congress work to keep the Social Security system strong and viable not only for our current retirees, but for future generations of Americans. That is why I introduced the Social Security Protection Act in 2003, which took steps to combat fraud and abuse of the Social Security system. Similar legislation was introduced in the House of Representatives. I helped steer this legislation through the Senate, and hope the House of Representatives can pass it soon so the President can sign it into law. I have also introduced and strongly supported the Social Security Benefits Tax Relief Act of 2003, which would repeal the income tax increase on Social Security benefits that went into effect in 1993. This is an unfair tax on our seniors, and needs to be repealed. I am continuing to work on eliminating this unfair tax. Congress also needs to address the future financial stability of the Social Security system. We know that if we do nothing, Social Security will start spending more than it takes in by 2016, and will go broke by 2038. I have long supported allowing individuals to contribute a portion of their Social Security contributions to private investment accounts. Personal accounts can improve retirement security by facilitating wealth creation and providing participants with assets that they own and can be inherited. Individuals would be free to pursue higher expected rates of return on their Social Security contributions, which will lead to greater long-term stability. I hope we can put politics aside and act on behalf of all Americans and bring reforms to the Social Security system to ensure its solvency and guarantee benefits for all Americans. Social Security Press Releases Feb. 11 - Bunning Applauds House Passage Of Social Security Protection Act Dec. 10 - Senate Approves Bunning Proposal To Combat Fraud And Abuse In The Social Security System Feb. 25 - Bunning Introduces Social Security Protection Act Social Security Columns Feb. 11 - Why We Need to Fix Social Security Mar. 07 - Another Greenspan Social-Security Reform? Feb. 27 - Weeding Out Waste, Fraud And Abuse From Social Security