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Pat Toomey on Social Security
Republican Jr Senator; previously Representative (PA-15)
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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 NO 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
Create personal retirement accounts within Social Security.
Toomey co-sponsored creating personal retirement accounts within Social Security
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.
Source: Personal Lockbox Act (H.R.4839) 00-HR4839 on Jul 12, 2000
Rated 20% by the ARA, indicating an anti-senior voting record.
Toomey scores 20% 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
Rated 7% by ARA, indicating a pro-privatization stance.
Toomey scores 7% Alliance for Retired Americans
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.
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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.
Source: ARA lifetime rating on incumbents of 113th Congress 14_ARA on Jan 1, 2013
Page last updated: Jan 14, 2022