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Ed Markey on Social Security

Democratic Representative (MA-7)

 


Opposes privatizing, or any changes that reduce benefits

Time and again, Ed has fought to protect Social Security and Medicare, which provide retirement security to more than one million people in Massachusetts. He opposes any changes to Social Security that would reduce benefits for our nation's seniors, including misguided proposals to raise the retirement age or reduce cost of living adjustments. And Ed will always fight against Republicans' attempts to privatize Social Security.
Source: Vote-USA.org on 2020 Massachusetts Senate race , Oct 23, 2014

Oppose Bush's Social Security benefit cut

Rep. Markey today called for Pres. Bush to tell the truth about his risky and misleading proposal to privatize Social Security and the impact it will have on middle class families. Rep. Markey said that roughly 750,000 of the one million middle class families receiving social security in Massachusetts could be hit by the proposal endorsed by President Bush.

"This is the single biggest Social Security benefit cut for the middle class in history. The massive benefit cuts under Social Security privatization will be especially devastating for middle class families in Massachusetts. In fact, 745,038 current Massachusetts beneficiaries would see a reduction in their Social Security checks if the Bush proposal were fully in effect today," said Rep. Markey.

"First, we learned that the Bush proposal to privatize Social Security would mean benefit cuts and trillions in new debt. Now we see a double whammy, with even deeper benefit cuts targeted directly at the middle class," said Rep. Markey.

Source: Vote-USA.org on 2010 Massachusetts Senate incumbents , Oct 4, 2008

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 NO 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

Reject proposals for private saving accounts.

Markey 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:

  1. President Bush promised to partially privatize Social Security, and appointed a commission to develop a plan on his behalf.
  2. The commission developed three alternative plans that would partially privatize Social Security.
  3. 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.
  4. The plans' cuts in disability and survivor benefits directly contradict the President's promise that disability and survivor benefits would be preserved under privatization.
  5. Furthermore, these reductions in guaranteed benefits apply to all workers, regardless of whether they chose to have an individual account or not.
  6. Substituting private accounts for guaranteed Social Security benefits increases financial risk for retirees, disabled workers and their families.
  7. 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

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

Markey scores 100% by the ARA on senior issues

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.

Source: ARA website 03n-ARA on Dec 31, 2003

Reject privatization; don't raise the retirement age.

Markey signed the Social Security Protectors Pledge

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.

Source: PCCC Survey 10-PCCC on Aug 11, 2010

Sponsored keeping CPI for benefits instead of lower "Chained CPI".

Markey co-sponsored Resolution on CPI

CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.