HI SCR109

Urges the United States Congress to adopt the Social Security 2100 Act to address the projected depletion of Social Security trust funds by 2034, which would result in only 78 percent of scheduled benefits being paid after that date.

The Social Security 2100 Act would increase benefits by 2 percent for all beneficiaries for the first time in 52 years, improve cost-of-living adjustments, restore student benefits to age 26, and increase benefits by an additional 5 percent for seniors receiving benefits for 15+ years.

Funding would come from applying Federal Insurance Contributions Act taxes to earnings over $400,000 and adding a 12.4 percent net investment income tax for taxpayers earning over $400,000, while cutting taxes for 23 million middle-income beneficiaries.

Strongly encourages Congress to reject any legislation that would privatize Social Security benefits through self-directed retirement accounts.

Directs certified copies of the resolution to be transmitted to the President Pro Tempore of the U.S. Senate, Speaker of the U.S. House of Representatives, and Hawaii's congressional delegation.