Jim Gilmore on Social Security Senate challenger 2008; previously Republican Governor (VA)

Cap entitlements & create a culture of independence

A: We have developed a whole system, Social Security, of all these entitlement systems that are going to eat up the ability of the taxpayer to be able to pay for them. So we're going to have to address how we can put a cap on these in such a way that we're going to be able to pay for them and create a culture of independence in this country so people can provide for themselves in a way that liberates them for this.

Praises Bush leadership on Social Security reform

Maintain long-term solvency of Social Security and Medicare.

The Issue

Tax issues raise several concerns for states.
• How much of the potential non-Social Security surplus should be dedicated to tax cuts and breaks?
• Absent any consensus on long-term legislation to ensure solvency of Social Security and Medicare, would major federal revenue losses for tax cuts risk shifting substantial entitlement burdens to states?
• How would federal tax changes affect state income taxes?
• What are key elements for states of any future major tax bill? In school construction? For retirement? For housing and economic development? For health care?

NGA’s Position