Political Quotes

“my colleague the gentleman from Texas (Mr. Charlie Stenholm) and I have introduced a comprehensive Social Security reform legislation, H.R. 1793, and I want to talk today about some of the provisions that are in this bill. Today, I want to concentrate on those dealing with women. Our bill contains a minimum benefit provision that would provide a more robust benefit than afforded by the current system. For an individual who works 40 years, we guarantee them a Social Security benefit equal to 100 percent of the poverty level. And as a result of that provision alone, 50 percent of women will get more retirement benefits under the Kolbe-Stenholm plan than under current law. Our plan also allows workers to contribute an additional $2,000 per year into their personal account. Women expected to take time off to raise children can make voluntary contributions both before and after their hiatus to catch up. For women who earn less than $30,000, the Kolbe-Stenholm plan provides a savings subsidy for up to $600 per year. One of the reasons our bill is better for women is the changing nature of divorce. Not only has the divorce rate skyrocketed, but marriages are not lasting as long and more and more women are not remarrying. Consequently, more and more women are heading into retirement alone without the benefit of a spouse's Social Security income.”