Statement of Administration Policy: H.R. 4578 - Save Social Security Act of 1998

STATEMENT OF ADMINISTRATION POLICY

(House)

(Rep. Archer (R) TX)

H.R. 4578 violates the President's pledge to save Social Security first. It calls for tens of billions of dollars to be drained out of projected budget surpluses before any action has been taken to strengthen Social Security for the long term. The President firmly believes that none of the projected surpluses should be touched until the long-term solvency of Social Security has been fully secured.

The unique opportunity to save Social Security must not be squandered. The Administration, therefore, strongly opposes H.R. 4578. If the bill were presented to the President in its current form, he would veto it.