Saxby Chambliss: “In 2004, the Commissioner of Social Security signed a totalization agreement with the Director General of the Mexican…”

“In 2004, the Commissioner of Social Security signed a totalization agreement with the Director General of the Mexican Social Security Institute. While the President has not yet submitted the United States-Mexico totalization agreement to Congress, I am concerned the agreement could threaten the retirement benefits of Americans. Totalization agreements allow workers who divide their careers between two countries to combine work credits from both countries to qualify for Social Security benefits. It also prevents workers from paying Social Security taxes in both countries. While this seems like a good idea that ensures fairness, the proposed totalization agreement with Mexico leaves many questions unanswered in terms of its cost to American taxpayers. I am concerned the proposed totalization agreement with Mexico and possible future totalization agreements will impose significant costs on the already overburdened U.S. Social Security system.”