Lois Capps on Social Security Democratic Representative (CA-23)

Voted YES on raising 401(k) limits & making pension plans more portable.

Voted YES on reducing tax payments on Social Security benefits.

Voted YES on strengthening the Social Security Lockbox.

Create Retirement Savings Accounts.

Balance America’s Commitments to the Young and the Old
An ever-growing share of the federal budget today consists of automatic transfers from working Americans to retirees. Moreover, the costs of the big entitlements for the elderly -- Social Security and Medicare -- are growing at rates that will eventually bankrupt them and that could leave little to pay for everything else government does. We can’t just spend our way out of the problem; we must find a way to contain future costs. The federal government already spends seven times as much on the elderly as it does on children. To allow that ratio to grow even more imbalanced would be grossly unfair to today’s workers and future generations. In addition, Social Security and Medicare need to be modernized to reflect conditions not envisioned when they were created in the 1930s and the 1960s. Social Security, for example, needs a stronger basic benefit to bolster its critical role in reducing poverty in old age. Medicare needs to offer retirees more choices and a modern benefit package that includes prescription drugs. Such changes, however, will only add to the cost of the programs unless they are accompanied by structural reforms that restrain their growth and limit their claim on the working families whose taxes support the programs.

Goals for 2010
• Honor our commitment to seniors by ensuring the future solvency of Social Security and Medicare.
• Make structural reforms in Social Security and Medicare that slow their future cost growth, modernize benefits (including a prescription drug benefit for Medicare), and give beneficiaries more choice and control over their retirement and health security.
• Create Retirement Savings Accounts to enable low-income Americans to save for their own retirement.

Changing Social Security disproportionately affects women.

RESOLUTION: Recognizing the unique effects that proposals to reform Social Security may have on women.

• 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.

Rated 100% by the ARA, indicating a pro-senior voting record.

The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security. The Alliance believes that all older and retired persons have a responsibility to strive to create a society that incorporates these goals and rights and that retirement provides them with opportunities to pursue new and expanded activities with their unions, civic organizations and their communities.

The following ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position.

Reject privatization; don't raise the retirement age.

Some 200 Democratic House and Senate candidates have signed on to a pledge rejecting any effort to privatize or scale back Social Security benefits or raise the retirement age. The Progressive Change Campaign Committee sponsored this pledge among Congressional candidates.

Rated 98% by ARA, indicating a pro-Trust Fund stance.

Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).

About ARA (from their website, www.RetiredAmericans.org):

The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.

• Alliance members visit the polls in record numbers. We use the power of our membership and our Congressional Voting Record to educate and mobilize seniors to elect leaders committed to improving the lives of retirees and older Americans.
• We are effectively warding off cuts to our most important social programs like Social Security and Medicare. Our Human Chain Against the Chained CPI events in the summer of 2013 took place in more than 50 cities and mobilized support for stopping this cut to earned Social Security benefits.
• We blocked the privatization of Social Security with our Social Security "Truth Truck" delivering 2.1 million petitions to Members of Congress and other tactics.
• The Alliance makes its voice heard on the issues that matter not just to current retirees, but to all Americans who hope to retire one day. We were a leading voice in recent debates considering changes to Medicare, like replacing guaranteed benefits with a voucher system, and remain so in 2014.

Supported pension reform and tax credits for long-term care.

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:
• 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.