Washington, DC - U.S. Chamber of Commerce Executive Vice President for Government Affairs Bruce Josten released the following statement applauding the release of the bi-partisan “Save Our Social Security Act” to restore this vital program to fiscal health:

“The U.S. Chamber strongly commends Congressman Ribble and his colleagues for their work on the recently introduced legislation substantially advancing the debate on Social Security reform. 

“Once again, the Social Security Trustees remind us it won’t be long before Social Security will simply lack the resources needed to pay promised benefits. Once again, the Congressional Budget Office in its long-term budget outlook reminds us of the unsustainable fiscal path we are on and the enormous debt the federal government will rack up if we do not change course, and that the essential driving force behind this dim future is rapidly rising entitlement spending.

“We simply have no choice but to reform our major entitlement programs. While many in Congress would prefer to pretend these problems will all go away by themselves, some are willing to step forward with real solutions like the ‘Save Our Social Security Act’. Reps. Ribble (R-WI), Cooper (D-TN), Benishek (R-MI), Lummis (R-WY), Rigell (R-VA), and Rokita (R-IN) should be commended for their careful consideration of the problem and thoughtful proposal.

“Social Security can be reformed in a variety of ways to achieve long-term solvency. The work of Congressman Ribble and his colleagues represents one approach, but it is an approach worth considering carefully. In the view of the U.S. Chamber, this legislation constructively builds on past efforts, and positions the House well for further serious debate in 2016, and legislative action in 2017. We look forward to working with all interested parties toward ensuring Social Security remains financially secure for future generations.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.