Cynthia McKinney on Social Security
Green Party nominee for President (Former Rep., D, GA-4)
Voted YES on raising 401(k) limits & making pension plans more portable.
Comprehensive Retirement Security and Pension Reform Act of 2001: Vote to pass a bill that would raise the amount individuals may contribute to traditional and Roth Individual Retirement Accounts and to 401[k] plans and make pensions plans more portable
Reference: Bill sponsored by Portman, R-OH;
Bill HR 10
; vote number 2001-96
on May 2, 2001
Voted YES on reducing tax payments on Social Security benefits.
Vote to pass a bill that would reduce the percentage of Social Security benefits that is taxable from 85 to 50 percent for single taxpayers with incomes over $25,000 and married couples with incomes over $32,000. The revenues that would be lost for the Medicare trust fund would be replaced by money from the general fund.
Reference: Bill sponsored by Archer, R-TX;
Bill HR 4865
; vote number 2000-450
on Jul 27, 2000
Voted YES on strengthening the Social Security Lockbox.
Amending the Social Security Lockbox bill to require that any budget surplus cannot be spent until the solvency of Social Security and Medicare is guaranteed.
Reference: Motion to Recommit introduced by Rangel, D-NY;
Bill HR 1259
; vote number 1999-163
on May 26, 1999
Changing Social Security disproportionately affects women.
McKinney co-sponsored changing Social Security disproportionately affect women
RESOLUTION: Recognizing the unique effects that proposals to reform Social Security may have on women.
Source: H.RES.128 01-H128 on May 1, 2001
- Whereas the Social Security benefit structure is of particular importance to low-earning wives and widows, with 63% of women beneficiaries aged 62 or older receiving wife's or widow's benefits;
- Whereas 3/4 of unmarried and widowed elderly women rely on Social Security for over half of their income;
- Whereas without Social Security benefits, the elderly poverty rate among women would have been 52.2% and among widows would have been 60.6%;
- Whereas women tend to live longer and tend to have lower lifetime earnings than men do;
- Whereas women spend an average of 11.5 years out of their careers to care for their families, and are more likely to work part-time than full-time; and
Whereas during these years in the workforce, women earn an average of 70 cents for every dollar men earn:
- Now, therefore, be it Resolved, That the House of Representatives recognizes the unique obstacles that women face in ensuring retirement security and survivor and disability stability and the essential role that Social Security plays in guaranteeing inflation-protected financial stability for women throughout their entire old age, and it is the sense of the House of Representatives that the Congress and the President should take these factors into account when considering proposals to reform the Social Security system.
Reject proposals for private saving accounts.
McKinney co-sponsored rejecting proposals for private saving accounts
To reject proposals to partially or completely substitute private saving accounts for the lifelong, guaranteed, inflation-protected insurance benefits provided through Social Security. The Congress finds the following:
- President Bush promised to partially privatize Social Security, and appointed a commission to develop a plan on his behalf.
- The commission developed three alternative plans that would partially privatize Social Security.
- The plans divert substantial monies from the Social Security Trust Funds to pay for the private accounts, which threatens benefits for current beneficiaries by significantly weakening the financial condition of the Trust Funds.
- The plans' cuts in disability and survivor benefits directly contradict the President's promise that disability and survivor benefits would be preserved under privatization.
- Furthermore, these reductions in guaranteed benefits apply to all workers,
regardless of whether they chose to have an individual account or not.
- Substituting private accounts for guaranteed Social Security benefits increases financial risk for retirees, disabled workers and their families.
- Moreover, other proposals to privatize Social Security, such as the 'Social Security Guarantee Plus' plan or the 'Social Security Ownership and Guarantee' plan, establish private accounts that directly or indirectly reduce Social Security benefits.
Source: H.R.4780 02-H4780 on May 21, 2002
- The Congress hereby commits to preserve the guaranteed, lifelong, inflation-protected benefits provided under the Social Security Act to retirees, disabled workers and their families, and the survivors of deceased workers; and
- Congress therefore rejects the President's plans to partially privatize Social Security, and other proposals to privatize Social Security by establishing private accounts that would undermine traditional Social Security benefits.
Supported pension reform and tax credits for long-term care.
McKinney adopted the Women's Caucus policy agenda:
The teams of the Women’s Caucus are charged with advancing action on their designated issues in a bipartisan manner. Legislation from Team 7: RETIREMENT:
- HR1102—Comprehensive Retirement Security and Pension Reform Act—provide for pension reform (Portman/Cardin)
- HR2102—Long-Term Care and Retirement Security Act of 1999—allow deducting long-term care insurance premiums and a credit for individuals with long term care needs. (N. Johnson/Thurman)
- HR2261—Health Insurance Affordability and Equity Act of 1999—provide incentives for health coverage by providing credits and deductions for unemployed and self-employed to cover health care costs. (N. Johnson)
- HR1021—Small Business Pension Start-Up Credit Act of 1999—allow small employers a credit against income tax for costs incurred in establishing a qualified employer plan (Stabenow/Camp)
- HR957—Farm and Ranch Risk Management Act—allow farmers to put money into the equivalent of IRAs to cover expenses during
downturns in the market. (Hulshof/Thurman)
The Caucus supports efforts to ensure that the unique needs of women are recognized and addressed in efforts to shore up Social Security. The Caucus supports efforts to educate women about pension plans and encourage women to save for retirement. The Caucus recognizes that:
Source: Women's Caucus Agenda-106th Congress 99-WC10 on Jul 15, 1999
- 63% of women beneficiaries aged 62 or older receive wife’s or widow’s benefits.
- Three-quarters of unmarried and widowed elderly women rely on Social Security for over half of their income.
- Without Social Security benefits, the elderly poverty rate among women would have been 52.2% and among widows would have been 60.6%.
- Women tend to live longer and have lower lifetime earnings than men.
- Women spend an average of 11.5 years out of their careers to care for their families, and are more likely to work part-time than full-time
- Women earn an average of 70 cents for every dollar men earn.
Page last updated: Oct 01, 2008