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Senate Resolution 04-028 |
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SENATE JOINT RESOLUTION 04-028 BY SENATOR(S) Cairns, Andrews, Johnson S., Jones, May R., Anderson, Arnold, Chlouber, Entz, Hillman, Kester, McElhany, Owen, and Teck; also REPRESENTATIVE(S) Cadman, Briggs, Brophy, Clapp, Crane, Fairbank, Hall, Harvey, Hefley, Hoppe, Lee, Miller, Mitchell, Rhodes, Rose, Schultheis, Spradley, Stafford, and Welker. CONCERNING SOCIAL SECURITY PERSONAL RETIREMENT ACCOUNTS. WHEREAS, Demographic changes and cost increases will drain the existing social security system; and WHEREAS, Without significant changes to the social security system, costs will exceed revenues starting in the year 2018, and the social security system will not be able to pay benefits by the year 2042; and WHEREAS, Not reforming the social security system will require a 50% tax increase on every working American or a 30% benefit cut; and WHEREAS, Allowing younger workers to invest a portion of their income in personal retirement accounts will keep the social security system solvent; and WHEREAS, Allowing younger workers to invest a portion of their income in personal retirement accounts will avoid any benefit cuts or tax increases; and WHEREAS, Allowing younger workers to invest a portion of their income in personal retirement accounts will provide additional savings to younger workers for greater retirement security; now, therefore, Be It Resolved by the Senate of the Sixty-fourth General Assembly of the State of Colorado, the House of Representatives concurring herein: That we, the members of the General Assembly of the state of Colorado, respectfully request that the members of Colorado's congressional delegation support optional personal retirement accounts and not support increases in payroll taxes and cuts to social security benefits. Be It Further Resolved, That copies of this Joint Resolution be sent to each member of Colorado's congressional delegation. ____________________________ ____________________________ John Andrews Lola Spradley PRESIDENT OF SPEAKER OF THE HOUSE THE SENATE OF REPRESENTATIVES ____________________________ ____________________________ Mona Heustis Judith Rodrigue SECRETARY OF CHIEF CLERK OF THE HOUSE THE SENATE OF REPRESENTATIVES |
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