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Senator Santorum Discusses the Need to Save and Strengthen Social Security
November 3, 2005
For Immediate Release November 3, 2005
Contact: Robert Traynham (202) 224-0610
Washington, D.C. – U.S. Senator Rick Santorum (R-PA), Chairman of the Senate Republican Conference, joined Senator Jim DeMint (R-SC) for a Business Roundtable discussion with members of the Coalition for the Modernization and Protection of America’s Social Security (CoMPASS). As Chairman of the U.S. Senate Finance Subcommittee on Social Security and Family Policy and a member of the Senate Select Committee on Aging, Senator Santorum has been a long time leader in working in a bipartisan manner to save and strengthen Social Security.
“I am hopeful that this discussion reinforces that we have the opportunity and responsibility to protect current and near retirees, while ensuring sustainable financial security and peace of mind for future generations,” said Senator Santorum. “Pennsylvania has the second-highest number of seniors in the country; therefore one of my highest priorities is to ensure retirement security for all Americans.”
Senator Santorum discussed his recently introduced legislation, S. 1750, the Social Security Guarantee Act of 2005, which would require the Secretary of the Treasury to issue a written guarantee of a monthly benefit to each Social Security recipient, along with a guaranteed annual cost-of-living increase, to any individual born before 1950.
“As I spend time traveling throughout the Commonwealth and participating in town hall meetings with Pennsylvanians about the future of Social Security, the most common concern I hear from seniors and near-retirees is that they will not receive their promised benefits,” said Senator Santorum. “The Social Security Guarantee Act makes it federal law that they will.”
“Our nation’s Social Security system is headed towards insolvency and needs to be fixed in order to provide retirement security for future generations,” said John J. Castellini, CoMPASS President and President of Business Roundtable. “Senators Santorum and DeMint are leaders in the effort to find ways to fix Social Security, and we’re calling on others of both parties in the House and Senate to re-engage in this issue.”
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