On the recordJuly 20, 2022
I thank the gentleman, but it actually is authored by 206 Members of the United States Congress, and I appreciate all the work that has been done. The gentleman was correct. This is the number one antipoverty program for the elderly. It is also the number one antipoverty program for children. It is also the program that more veterans use for disability than any, even the VA. It is the most efficient and effective government program in terms of cost. They operate in insurance language at what is called a 99 percent loss ratio which means this: It costs less than 1 percent administrative costs to distribute the greatest insurance program. The greatest antipoverty program for the elderly, for children, and for veterans is all done by Social Security. That is why we need to expand it. On the Committee on Ways and Means, Chairman Neal had a Racial Equity Committee that our colleagues all participated in, and one of the shining stars of that was none other than Stacey Plaskett from the Virgin Islands, who understands that if we want to focus on what John Lewis called the next great challenge for civil rights, it was to recognize how Social Security has treated women and specifically women of color and Black males. I recognize Stacey Plaskett from the Virgin Islands.





