Hilda L. Solis: “I rise today to represent the millions of American women who would be disproportionately hurt by privatizing Social…”

“I rise today to represent the millions of American women who would be disproportionately hurt by privatizing Social Security. First of all, women on average earn less than men. Full-time working women still receive only 73 cents to every dollar earned by a man. This means that women count on Social Security's progressive benefits structure as their primary retirement income more than men. Women make up about 60 percent of Social Security beneficiaries, and on average live 6 to 8 years longer, so their savings run out sooner. In my district, there are more than 10,700 households headed by women who are the guardians of their families. The average income in my district is about $41,000, and Social Security assures economic stability for women retirees. At the end of 2003, women's average monthly retirement benefit in my district was about $798, and the men's average benefit was about $1,039. The gender disparities mean we must fight to protect women. Let us not call Social Security a crisis. Let us fix it so that everybody is treated equally and so that benefits are stabilized.”