FOR IMMEDIATE RELEASE, Contact: (202) 225-1721
November 4, 1998
No. FC-14
Congressman Bill Archer (R-TX), Chairman of the Committee on Ways and Means, today announced that the Committee will hold a hearing on ideas for advancing the upcoming debate on saving the Social Security system. The hearing will take place on Thursday, November 19, 1998, in the main Committee hearing room, 1100 Longworth House Office Building, beginning at 11:00 a.m.
In view of the limited time available to hear witnesses, oral testimony at this hearing will be from invited witnesses only. Witnesses include representatives of the Administration, former Members of Congress, and other notable experts. However, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing.
BACKGROUND:
With the elderly living longer and the advent of a larger retired population from the baby boom generation, the financial problems of the Social Security system will be felt as soon as 2013. At that time, the program will expend more than it takes in from payroll taxes and the Government will have to increase borrowing, reduce spending, or raise revenues to honor its commitments to the Social Security Trust Funds in order to pay benefits. Without reform of the system, Social Security will be unable to pay full benefits in 2032, according to the latest report of the Social Security Board of Trustees.
Social Security has faced financial difficulty on a number of
occasions since the mid-1970s. In certain instances, Congress and the
President were facing a more immediate crisis unless action was agreed
to, benefit payments were not going to be issued. Ultimately, a
bipartisan agreement was reached by the legislative and executive
branches of Government. Lessons learned from these past reform efforts
are critical in creating an environment within which Social Security
reform can successfully take place.
In announcing the hearing, Chairman Archer stated: "History shows that without a climate of bipartisan cooperation and true statesmanship, there will be no hope of truly saving Social Security. That is why I have decided to hold this hearing on ideas for addressing the debate on saving Social Security. Because of the historic window of opportunity before us, I am inviting the Administration and others to testify now before the opening of the new Congress."
FOCUS OF THE HEARING:
The Committee will seek guidance from the Administration, former Members and other notable experts on what can be learned from the experiences of past Social Security reform efforts, as well as recommendations on the best strategic "road map" to result in a solid and fair plan to save Social Security for all Americans.
DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:
Any person or organization wishing to submit a written statement for the printed record of the hearing should submit six (6) single-spaced copies of their statement, along with an IBM compatible 3.5-inch diskette in WordPerfect 5.1 format, with their name, address, and hearing date noted on a label, by the close of business, Thursday, December 3, 1998, to A.L. Singleton, Chief of Staff, Committee on Ways and Means, U.S. House of Representatives, 1102 Longworth House Office Building, Washington, D.C. 20515. If those filing written statements wish to have their statements distributed to the press and interested public at the hearing, they may deliver 200 additional copies for this purpose to the Committee office, room 1102 Longworth House Office Building, by close of business the day before the hearing.
FORMATTING REQUIREMENTS:
Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below. Any statement or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.
1. All statements and any accompanying exhibits for printing must be submitted on an IBM compatible 3.5-inch diskette in WordPerfect 5.1 format, typed in single space and may not exceed a total of 10 pages including attachments. Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing record.
2. Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.
3. A witness appearing at a public hearing, or submitting a statement for the record of a public hearing, or submitting written comments in response to a published request for comments by the Committee, must include on his statement or submission a list of all clients, persons, or organizations on whose behalf the witness appears.
4. A supplemental sheet must accompany each statement listing the name, company, address, telephone and fax numbers where the witness or the designated representative may be reached. This supplemental sheet will not be included in the printed record.
The above restrictions and limitations apply only to material being submitted for printing. Statements and exhibits or supplementary material submitted solely for distribution to the Members, the press, and the public during the course of a public hearing may be submitted in other forms.
The
Committee seeks to make its facilities accessible to persons with
disabilities. If you are in need of special accommodations, please
call 202-225-1721 or 202-226-3411 TTD/TTY in advance of the event
(four business days notice is requested). Questions with regard to
special accommodation needs in general (including availability of
Committee materials in alternative formats) may be directed to the
Committee as noted above.