Kay Bailey Hutchison: “our Social Security system, we all know, is in a very precarious position. In fact, we are trying to pass Social…”

“our Social Security system, we all know, is in a very precarious position. In fact, we are trying to pass Social Security reform that would extend the life of our Social Security system. We know we are facing impending insolvency. The trust fund has $2.4 trillion and is supporting 46 million beneficiaries. In 2017, the trust fund will begin paying out more in benefits than it receives in revenue. It is expected to be fully exhausted in 2041. If we pass the bill before us, we will be adding millions of new beneficiaries into the Social Security system, but we will also be allowing individuals who were not authorized to work in this country the opportunity to qualify from illegal work. Under the current bill, Social Security credits for the time prior to getting a valid card would not be allowed. That is the good part of the bill. However, on a visa overstay or someone who has a card in their name, but they are working illegally, they would still be able to get quarters credited for that illegal work. My amendment would close that loophole.”