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October 1, 2004 > > > > > Mr. Joseph Mascitti > 1677 Pinefield Road > Marietta, Georgia 30066 > > Dear Mr. Mascitti: > > Thank you for contacting me regarding your concerns with > current issues facing seniors including social security, pension > protection, the cost of prescription drugs, and long-term healthcare. It is > good to hear from you. > > I am committed to preserving and protecting Social Security to > ensure its solvency in the future. While serving in the House of > Representatives, I voted to repeal the 1993 tax increase on Social > Security benefits, and I voted to establish a lock box to make sure that > the entire Social Security budget surplus is used solely for Social > Security. It is clear that the demand on Social Security is beginning to > outpace the revenues it receives. As a result, I believe we need to > modernize the system by allowing voluntary personal retirement > accounts to augment Social Security and provide a better retirement for > America's seniors. > > One option would incorporate some type of personal retirement > account to supplement the current social security system. I believe that > voluntary personal retirement accounts would allow not only for a higher > rate of return for our country's workers, but also for a more secure > investment. Instead of relying on government officials to do the right > thing for their retirement, voluntary personal retirement accounts would > allow individuals to have some control and ownership of their retirement > savings. Recently Alan Greenspan, the Chairman of the Federal Reserve > Board, announced that increasing taxes and reducing the benefits paid to > retirees was not only inevitable, but that it was necessary to fix Social > Security. Congress must act now in order to avoid raising taxes and > cutting future benefits to ensure that working men and women do receive > Social Security benefits that they deserve. > > You will be interested to know that I have been working to make > sure that those who are involved with corporate scandals will be held > accountable. I am committed to working to make sure that those who > commit these crimes are properly punished and you can rest assured that > the votes I cast in Congress will reflect that commitment. I understand > your concern for the reliability of corporate pension plans and I can > assure you that I will continue to put safeguards into place that protect > pensions. > > Health care and prescription drug costs are continuously > spiraling upward. One way to help address this is to make improvements > to the Medicare program which the "Medicare Prescription Drug, > Improvement, and Modernization Act of 2003" (P.L. 108-173) does. > This law modernizes Medicare from a 1965 era program to a program > that will strengthen our private health care system, creates incentives for > competition and a consumer driven approach to health care, and gives > our seniors the full measure of modern medicine that has been promised > to them. > > Helping today's seniors with access to prescription drugs must > be balanced with our responsibility to future generations. These > generations are a main concern of mine because I think this Act lacks > some common sense regarding fiscal restraint. It has the potential to > expand our budget deficit for years to come, and places the burden of an > entitlement program on the shoulders of our children's generation. > > Also, the income-based provisions included in this Act are > positive but are not strong enough. Again, my goal is to help those > seniors who cannot afford life saving drugs and currently have to make > the choice between putting food on their table and buying their > prescriptions. We should not waste taxpayer money on subsidizing > wealthy seniors who can afford to pay for their own medicines. > Individuals who have a total income of $13,470 or less will receive great > benefits. However, the gaps in coverage for the middle class will make > this law somewhat ineffective or possibly even more costly for certain > beneficiaries. Protecting those most in need is imperative, but we cannot > sacrifice those folks that fall in the middle. > > I was concerned about trying to make the best decision for > America's seniors, for Medicare solvency, and for the financial security > of our children and future generations. This was a bipartisan agreement, > and it is a necessary step to completing the promise we made to seniors > by providing prescription drug coverage. It was for this reason that I > voted for this Act. Please know I will continuously seek ways to > improve this program by seeking stronger cost containment provisions > and increasing the flexibility for the plans. > > Finally, I would like to address your concerns with long-term > care options for seniors. S.1335, the "Long-Term Care Retirement > Security Act of 2003," was introduced on June 25, 2003, and was > referred to the Senate Committee on Finance and would allow for a > deduction for eligible long term care insurance premiums for a taxpayer, > spouse, and dependents. It would also allow for accelerated deduction > percentages for those 55 and older, as well as long term care insurance to > be offered under cafeteria plans. > > As the American population ages, long-term care expenditures > will be an increasing concern for our healthcare system. I can assure you > that as a member of the United States Senate, I will work to make sure > our federal healthcare programs provide the best possible options for > affordable insurance coverage for everyone. > > Again, thank you for taking the time to share your concerns with > me on these important issues. If I may ever be of assistance to you in the > future, please do not hesitate to let me know. > > Sincerely, > > Saxby Chambliss > United States Senate |