H.R. 3 Enrolled

RESOLUTION SUPPORTING CONGRESSIONAL
PRIVATIZATION OF SOCIAL SECURITY
2005 GENERAL SESSION
STATE OF UTAH
Sponsor: Michael T. Morley

LONG TITLE
General Description:
This resolution of the House of Representatives requests that action be taken by Utah's
congressional delegation.
Highlighted Provisions:
This resolution:
. requests that the members of Utah's congressional delegation oppose increases in
payroll taxes and cuts in Social Security benefits; and
. requests that members of Utah's congressional delegation support optional Social
Security Personal Retirement Accounts.
Special Clauses:
None

Be it resolved by the House of Representatives of the state of Utah:
WHEREAS, demographic changes and cost increases will drain the existing Social
Security system;
WHEREAS, without significant changes to the system, costs will exceed revenues
starting in 2018 and the system may not be able to pay any benefits by 2042;
WHEREAS, anyone born after the year 1970 will not receive full Social Security
benefits if changes are not made to the system;
WHEREAS, not reforming the system will require a tax increase on every working
American or a benefit cut; and
WHEREAS, allowing younger workers to invest a portion of their income in personal

retirement accounts will avoid any benefit cuts or tax increases:
NOW, THEREFORE, BE IT RESOLVED that the House of Representatives of the state
of Utah urges Utah's congressional delegation to oppose increases in payroll taxes and cuts in
Social Security benefits.
BE IT FURTHER RESOLVED that the House of Representatives urges Utah's
congressional delegation to support optional Social Security Personal Retirement Accounts.
BE IT FURTHER RESOLVED that a copy of this resolution be sent to the members of
Utah's congressional delegation.