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    This page contains bills sponsored by presidential contenders. Bill sponsorships indicate the topics that legislators are most interested in, and spend the most time on.

00-HR4839 on Jul 12, 2000

Legislation by 2008 Presidential Candidates: creating personal retirement accounts within Social Security
Source: Personal Lockbox Act (H.R.4839)
OFFICIAL CONGRESSIONAL SUMMARY:
  • Amends Social Security Act to add a new tax-exempt "Personal Retirement Account Program".
  • Designates a personal retirement account for each such individual that is funded by deposits from amounts in the Federal Old-Age and Survivors Insurance Trust Fund not otherwise required for immediate withdrawal, and by rollover and other contributions made by eligible individuals.
  • Directs the SEC to report to Congress on personal retirement account reinsurance.
  • Amends the tax code to provide for: (1) annual $300 contributions (tax credits) on behalf of each eligible individual to a personal retirement account; and (2) an excise tax on excess contributions to such accounts.

SPONSOR'S INTRODUCTORY STATEMENT: One of the things I have consistently heard from folks back home is the very simple idea that the first part of saving Social Security is making sure that Social Security taxes stay with Social Security. That is what this bill does because it takes the Social Security surplus, whatever that happens to be, and simply rebates it back to the people paying Social Security taxes, not to go out and fix up the car or buy a refrigerator with it, but instead to go into their own personal Social Security savings account that would be held by a fiduciary like the local bank.

The individual could not get their hands on the money until they turn 65, but they would get a monthly statement and for the first time, because of the private property rights that come with an account like that, for the first time have a firewall created between political forces in D.C. and their Social Security surplus.

LEGISLATIVE OUTCOME: Referred to the House Committee on Ways and Means; never called for a House vote.


    Participating counts on VoteMatch question 6. Question 6: Privatize Social Security Scores: -2=Strongly oppose; -1=Oppose; 0=neutral; 1=Support; 2=Strongly support.
  • Topic: Social Security
  • Headline: Create personal retirement accounts within Social Security (Score: 2)
  • Headline 2: Sponsored bill for personal retirement accounts in Soc.Sec. (Score: 2)

  • Key for participation codes:
  • Sponsorships: p=sponsored; o=co-sponsored; s=signed
  • Memberships: c=chair; m=member; e=endorsed; f=profiled; s=scored
  • Resolutions: i=introduced; w=wrote; a=adopted
  • Cases: w=wrote; j=joined; d=dissented; c=concurred
  • Surveys: '+' supports; '-' opposes.



Democrats participating in 00-HR4839



Republicans participating in 00-HR4839

Bob Barr s1oGeorgia Republican Challenger 
Joe Linus Barton s1oTexas Republican 
Ed Bryant s1oTennessee Republican 
Dan Burton s1oIndiana Republican (Retiring 2012) 
Tom Coburn s1oOK Republican Jr Senator; previously Representative 
Christopher Cox s1oCalifornia Republican 
Jim DeMint s1oSC Republican Jr Senator; previously Representative 
John Doolittle s1oCalifornia Republican (Retiring 2008) 
Jimmy Duncan s1oTennessee Republican 
Greg Ganske s1oIA Former Republican Nominee (2002) 
Lindsey Graham s1oSC Republican Sr Senator 
Wally Herger s1oCalifornia Republican (Retiring 2012) 
Peter Hoekstra s1oMI Republican Challenger 
Duncan Hunter s1oCalifornia Republican (Retiring 2008) 
Henry Hyde s1oIllinois Republican 
Walter Beaman Jones s1oNorth Carolina Republican 
Jack Kingston s1oGA Republican Challenger 
Steve Largent s1oOK00 Former Republican Challenger (2002) 
Scott McInnis s1oColorado Republican (Until 2004) 
David McIntosh s1oIndiana Republican 
Jack Metcalf s1oWashington Republican 
Sue Myrick s1oNorth Carolina Republican (Retiring 2012) 
Ron Paul s1oPOTUS Republican (Libertarian 1988) 
Charles Pickering s1oMississippi Republican (Retiring 2008) 
Joseph Pitts s1oPennsylvania Republican 
Bob Riley s1oAL Former Republican Governor (until 2010) 
Matt Salmon s1oArizona Republican 
Mark Sanford s2pSC Former Republican Governor (2002-2010) 
Joe Scarborough s1oFlorida Republican 
Pete Sessions s1oTexas Republican 
John Shadegg s1oArizona Republican 
Christopher Shays s1oConnecticut Republican (Unseated 2008) 
Christopher Smith s1oNew Jersey Republican 
Floyd Spence s1oSouth Carolina Republican 
John Sununu s1oNew Hampshire Republican 
Lee Terry s1oNebraska Republican 
Pat Toomey s1oPA Republican Jr Senator 



Independents participating in 00-HR4839

Tom Campbell s1oCA 2010 Republican Challenger (lost primary) 
Bob Schaffer s1oCO Former GOP Senate Challenger (2008) 



Total recorded by OnTheIssues:

Democrats: 0
Republicans: 37
Independents: 2


















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