Karen McCarthy on Social Security
Former Democratic Representative (MO-5)
Voted YES on raising 401(k) limits & making pension plans more portable.
Comprehensive Retirement Security and Pension Reform Act of 2001: Vote to pass a bill that would raise the amount individuals may contribute to traditional and Roth Individual Retirement Accounts and to 401[k] plans and make pensions plans more portable
Reference: Bill sponsored by Portman, R-OH;
Bill HR 10
; vote number 2001-96
on May 2, 2001
Voted NO on reducing tax payments on Social Security benefits.
Vote to pass a bill that would reduce the percentage of Social Security benefits that is taxable from 85 to 50 percent for single taxpayers with incomes over $25,000 and married couples with incomes over $32,000. The revenues that would be lost for the Medicare trust fund would be replaced by money from the general fund.
Reference: Bill sponsored by Archer, R-TX;
Bill HR 4865
; vote number 2000-450
on Jul 27, 2000
Voted YES on strengthening the Social Security Lockbox.
Amending the Social Security Lockbox bill to require that any budget surplus cannot be spent until the solvency of Social Security and Medicare is guaranteed.
Reference: Motion to Recommit introduced by Rangel, D-NY;
Bill HR 1259
; vote number 1999-163
on May 26, 1999
Rated 90% by the ARA, indicating a pro-senior voting record.
McCarthy scores 90% by the ARA on senior issues
The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security. The Alliance believes that all older and retired persons have a responsibility to strive to create a society that incorporates these goals and rights and that retirement provides them with opportunities to pursue new and expanded activities with their unions, civic organizations and their communities.
The following ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position.
Source: ARA website 03n-ARA on Dec 31, 2003
Supported pension reform and tax credits for long-term care.
McCarthy adopted the Women's Caucus policy agenda:
The teams of the Women’s Caucus are charged with advancing action on their designated issues in a bipartisan manner. Legislation from Team 7: RETIREMENT:
- HR1102—Comprehensive Retirement Security and Pension Reform Act—provide for pension reform (Portman/Cardin)
- HR2102—Long-Term Care and Retirement Security Act of 1999—allow deducting long-term care insurance premiums and a credit for individuals with long term care needs. (N. Johnson/Thurman)
- HR2261—Health Insurance Affordability and Equity Act of 1999—provide incentives for health coverage by providing credits and deductions for unemployed and self-employed to cover health care costs. (N. Johnson)
- HR1021—Small Business Pension Start-Up Credit Act of 1999—allow small employers a credit against income tax for costs incurred in establishing a qualified employer plan (Stabenow/Camp)
- HR957—Farm and Ranch Risk Management Act—allow farmers to put money into the equivalent of IRAs to cover expenses during
downturns in the market. (Hulshof/Thurman)
The Caucus supports efforts to ensure that the unique needs of women are recognized and addressed in efforts to shore up Social Security. The Caucus supports efforts to educate women about pension plans and encourage women to save for retirement. The Caucus recognizes that:
Source: Women's Caucus Agenda-106th Congress 99-WC10 on Jul 15, 1999
- 63% of women beneficiaries aged 62 or older receive wife’s or widow’s benefits.
- Three-quarters of unmarried and widowed elderly women rely on Social Security for over half of their income.
- Without Social Security benefits, the elderly poverty rate among women would have been 52.2% and among widows would have been 60.6%.
- Women tend to live longer and have lower lifetime earnings than men.
- Women spend an average of 11.5 years out of their careers to care for their families, and are more likely to work part-time than full-time
- Women earn an average of 70 cents for every dollar men earn.