Social Security Financing (CRS Report for Congress)
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| Release Date |
Jan. 25, 1983 |
| Report Number |
IB82126 |
| Authors |
David Koitz, Geoffrey Kollman, and Nancy Miller, Education and Public Welfare Division |
| Source Agency |
Congressional Research Service |
Summary:
To solve social security's financing problems both in the short and longterm, President Reagan appointed a bipartisan panel, the National Commisionon Social Security Reform. On Jan. 15, 1983, a majority of its membersreached agreement on a compromise solution that will produce $168 billion inadditional revenue and benefit reductions by the end of this decade andreduce the projected long-range deficit by two-thirds.Congress is expected to begin consideration of the Commission's and otherpossible proposals immediately. The House Ways and Means Committee plans tohave hearings in February, and have a bill before the full House by sometimein March. Primary jurisdiction in the Senate is in the Finance Committee.
