FreedomWorks

Wisconsin FreedomWorks activists scored a victory in the battle for Social Security reform on Saturday, March 19th. Representative Tom Petri joined other Wisconsin FreedomWorks activists in signing the “Own Your Future” petition that urges Congress to allow individuals to “invest a portion of their payroll taxes into Personal Retirement Accounts” (PRAs).

FreedomWorks cheers Rep. Petri for pledging to support fundamental Social Security reform. The document states that “the nation’s Social Security system is facing certain bankruptcy,” proving the Representative acknowledges that the retirement security crisis exists.

By signing the pledge, Rep. Petri also promised that he would not raise payroll taxes or cut benefits in order to fix Social Security. That’s good news because the payroll tax already kills jobs and opportunity, and an increase would only make this worse.

FreedomWorks Co-Chairman Dick Armey commented:

“FreedomWorks applauds Rep. Tom Petri for signing the Own Your Future Petition. Instead of ignoring Social Security’s demographic time-bomb, Rep. Petri is honest about the nature of the crisis and has committed to the only solution that will permanently deal with Social Security’s massive unfunded liability and provide retirement security for generations to come.”

“That solution: large Personal Retirement Accounts. Personal accounts harness the power of the market, providing workers with greater benefits than the current system. Moreover, PRAs let every worker control his or her own retirement future and give them a ‘nest egg’ that they can pass onto their children.”

“Wisconsin FreedomWorks members will provide support for Rep. Petri by educating the public about the benefits of personal accounts. Our activists will also work hard to get more signatures on this petition and ensure that the Wisconsin delegation votes for meaningful Social Security reform.”