National Committee to Preserve Social Security and Medicare Join the National Committee Renew Your Membership
Social Security
Medicare
Other Aging Issues
Members and Supporters
Press Room
        





  • Become Involved
  • About Us
  • Contact Us
  • Resources


  • Home Page
  • Increase Text Size
  • Decrease Text Size
  • Decrease Text Size

  • Decrease Text Size


    		•


    Email This Page to A Friend Print This Page

    THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY & MEDICARE
    ~ Trusted ~ Independent ~ Effective ~

    June 9, 2011

    NEWS RELEASE

    Leading Seniors' Advocacy Group Urges Vice President Joe Biden To Reject Expanding Payroll Tax Holiday

    The National Committee to Preserve Social Security and Medicare has written to Vice President Joe Biden, who's now leading Congressional/White House debt talks, urging him to reject proposals which would extend or expand the diversion of billions of dollars in Social Security payroll taxes.

    "Just six months ago, Washington promised the $112 billion dollar diversion of payroll taxes from Social Security would be a 'temporary' stimulus. Now, it appears some leaders who are negotiating a debt ceiling deal are proposing not only to extend this stimulus measure but actually expand it...diverting even more money away from Social Security. Diverting revenue from Social Security is not fiscal responsibility. There are other ways to provide effective stimulus that don't endanger Social Security's funding, including the successful 'Make Work Pay Tax Credit'.  Poll after poll has shown, Americans do not support using Social Security as a bargaining chip in yet another 'Let's Make a Deal' style negotiation in Washington ." Max Richtman, NCPSSM Executive Vice President/Acting CEO

    NCPSSM's letter to Vice President Biden reminds negotiators that American workers have successfully funded the Social Security program for 75 years and that critical linkage between contributions and benefits is what keeps Social Security a self-funded program.  Proposals to divert workers' payroll taxes way from Social Security threaten the program's independence, forcing it to compete for already limited federal dollars.  

    A copy of the letter can be found on our website at: http://www.ncpssm.org/news/archive/letter_vp_pay_roll_tax_holiday/

    ###
    The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.

    Media Inquiries to:
    Pamela Causey 202-216-8378/202-236-2123
    Kim Wright 202-216-8414
    www.ncpssm.org