U.S. Representative Marsha Blackburn (R-TN-07) accepts the Senior Lifesaver Award from National Seniors Council (NSC) executive Carole Rhodes (right) in the Congressman’s Capitol Hill office on July 29, 2015, in Washington, D.C. NSC bestowed the award on behalf of its 121,316 supporters nationwide, in appreciation for the Congressman’s introduction of H.R. 603, legislation that would preserve the Social Security system for more than 38 million Senior Citizens.
The National Seniors Council, on behalf of its 121,136 members and supporters, presented Congressman Marsha Blackburn with the coveted Senior Lifesaver Award for her introduction of H.R. 603, the Savings for Seniors Act of 2015.
“The federal government and Congress must stop spending your money from the Social Security Trust Funds,” states Congressman Blackburn. “The federal government takes right of first refusal on your pay check. You should get your money with interest back. We must protect our promise to America’s seniors and near seniors,” continued Congressman Blackburn. “I am thankful for the good work done by the National Seniors Council to fulfill that promise and am humbled to receive this honor.”
The Savings for Seniors Act of 2015 would form a commission composed of members from minority and majority parties in both the Senate and the House of Representatives with extensive experience and training in financial investment and pension benefits. This commission will be tasked with deciphering the best use for the excess money left in the Social Security Trust Fund, leaving the excess Social Security funds to experts who are well versed in this field.
“It was truly a pleasure to sit down with Congressman Blackburn and discuss her legislation aimed at saving Social Security for more than 38 million senior citizens in America,” says National Seniors Council executive Carole Rhodes. “Congressman Blackburn’s efforts to create a new and innovative way of protecting the future for senior citizens in all fifty states should be applauded mightily.” The National Seniors Council will continue to work actively on Capitol Hill to garner cosponsors for H.R. 603, and ultimate passage in the House of Representatives.
H.R. 603 will amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide the suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund.