Social Security Act of 1935

1. Social Security Act of 1935 Erica Bermudez

2. Social Security Act of 1935 • After the 74th Congress in January 1935, President Roosevelt sent his "Economic Security Bill" to Capitol Hill. • It was then transmitted to the Congress on January 17, 1935 and it was introduced that same day in the Senate by Senator Robert Wagner and in the House by Congressman Robert DoughtonandDavid Lewis. • After, the bill was referred to Senate Finance Committee and the House Ways & Means Committee. The bill was renamed on March 1, 1935 by Congressman Frank Buck.

3. On August 14, 1935 President Roosevelt signed the bill into law in the White House Cabinet Room. • The act created a solution to the problem of old-age pensions. U.S. social security "insurance" was supported from "contributions" in the form of taxes on individuals’ wages and employers’ payrolls rather than directly from Government funds. • The act also provided funds to assist children, the blind, and the unemployed; to institute vocational training programs; and provide family health programs. • The Social Security Act authorized the Social Security Board to register citizens for benefits, to administer the contributions received by the Federal Government, and to send payments to recipients. Prior to Social Security, the elderly routinely faced the prospect of poverty upon retirement. • It gave pension to the elderly and later on the act was expanded to include to dependent and disabled people