What: All Issues : Aid to Less Advantaged People, at Home & Abroad : Seniors : S. Con. Res. 23. Fiscal 2004 Budget Resolution/Vote to Reduce the Amount of Tax Cuts Contained in the Bill In Order to Create a Social Security Reserve Account. (2003 senate Roll Call 93)
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S. Con. Res. 23. Fiscal 2004 Budget Resolution/Vote to Reduce the Amount of Tax Cuts Contained in the Bill In Order to Create a Social Security Reserve Account.
senate Roll Call 93     Mar 25, 2003
Progressive Position:
Yea
Progressive Result:
Win

As baby-boomers retire, increasing financial pressure will be exerted on the Social Security system as a higher percentage of the population becomes eligible for the benefits. To reduce future pressure on Social Security, Senator John Breaux (DLA) offered an amendment to the 2004 budget resolution providing $396 billion for the creation of a Social Security reserve account for use in implementing future legislation to strengthen Social Security. The cost to the U.S. Treasury of creating the Social Security reserve fund would be paid for by reducing the size of the tax cuts contained in the budget resolution by an equivalent amount. The Breaux amendment would also reduce short-term tax breaks from $726 billion to $350 billion. Progressives voted in favor of Breaux's amendment because enacting tax cuts with future budget deficits looming might adversely impact important domestic programs such as Social Security. Three Republicans joined every Democrat in voting for the Breaux amendment which was narrowly adopted by a 51-48 margin.

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