Kevin Brady: “Social Security needs to be preserved once and for all. By passing this legislation which was introduced by the chairman…”

“Social Security needs to be preserved once and for all. By passing this legislation which was introduced by the chairman of the Social Security subcommittee, the gentleman from Florida (Mr. Shaw), the House of Representatives will make a strong statement that we do support reforming Social Security and ensuring its solvency once and for all without cutting benefits, increasing taxes on people whose payroll check does not go far enough as it is today. We may have different ideas, but let us first agree that the current system is not financially sound for the baby boomers and the generations that follow. Common sense tells us that we must transition from this pay-as-you-go system that will run out of money to a traditional retirement plan where our money grows over time into a bigger nest egg. The only question is how and how soon. And let us agree that we ought to keep our Social Security promises, cost-of-living increases each year that really do reflect the cost of living for seniors, and keeping our promise on benefits and not increasing taxes. Some people in Washington do not want to face up to this issue.”