Statement by the President Following Senate Approval of the Bill To Increase Social Security Benefits.

TODAY, in the Senate, 100 million Americans won a major victory.

I am proud that the Senate today passed the social security measure which so fully embraces the recommendations I made last January. Millions of American families have been waiting. Now they look to the President and the Congress with new hope for prompt action.

This measure promises a higher standard of living to 24 million Americans who now receive monthly social security checks. It promises a brighter future to 75 million wage earners and their families.

Today's bill marks the greatest dollar increase--and one of the most sweeping improvements in the program--since President Roosevelt launched social security 32 years ago.

Here is what this bill means:

--An average benefit increase of over 20 percent.

--A 59 percent increase for those citizens receiving the lowest benefits. For example a couple now receiving the $66 monthly minimum would get a $105 check. A single person now receiving $44 would get $70.

--In short this measure will lift a million Americans above the poverty line.

The House has already voted major improvements in the program. As this bill goes to conference, I ask the Congress to take this unparalleled opportunity to enlarge and enrich the lives of all our families.

In our day, every American has the right to ask and receive the blessings of security for his children and his family. We dare not fail them.