FOR IMMEDIATE RELEASE, Contact (202) 225-1721
January 12, 1999
No. FC-2
Congressman Bill Archer (R-TX), Chairman of the Committee on Ways and Means, today announced that the Committee will hold a hearing on preserving and strengthening Social Security. The hearing will take place on Thursday, January 21, 1999, in the main Committee hearing room, 1100 Longworth House Office Building, beginning at 9:00 a.m.
Oral testimony at this hearing will be from invited witnesses only. Witnesses will include former Committee Member and Social Security Subcommittee Ranking Democrat Barbara B. Kennelly. Appearing together will be former Member of Congress, former Secretary of the Department of Housing and Urban Development, and Vice Presidential nominee Jack Kemp, and the Reverend Jesse L. Jackson, Sr., President and Chief Executive Officer of the Rainbow/PUSH Coalition, Inc. 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:
America's Social Security program has had great success in alleviating poverty and boosting the incomes of millions of workers and families affected by retirement, death, and disability. In the years ahead, the program faces a funding shortfall due to long-term demographic changes. The 1998 Social Security Trustees' report notes that spending will exceed tax revenues in the year 2013; by year 2032, the Trust Funds will be exhausted and the program will be able to meet less than 75 percent of its obligations.
In anticipation of these challenges, several reform proposals have been introduced in Congress. Beginning with the 1998 State of the Union Address, the President stressed his intention to save any budget surpluses to secure a stronger future for Social Security. The President has since hosted a number of regional forums and convened a White House Conference on Social Security on December 8-9, 1998, at which he called for bipartisan cooperation to achieve needed reforms.
In announcing the hearing, Chairman Archer stated: "As the 106th Congress convenes, we must work together with the President to preserve and strengthen our Social Security system for all Americans. I look forward to hearing from Jesse Jackson, Jack Kemp, and Barbara Kennelly. Their extensive experience and thoughtful perspectives will immeasurably aid the Committee in our deliberations over the future of Social Security."
FOCUS OF THE HEARING:
The hearing will focus on major issues raised by Social Security reform proposals, including: whether change is needed and the prospect of continuing the current Social Security program without fundamental reform, whether workers should be permitted to establish personal savings accounts, and whether the Federal Government should invest a portion of the Trust Funds in private stocks and bonds.
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, February 4, 1999, 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.