Congressional Act 16-7 became Public Law 16-8 which amends Public Law No. 14-84, to change the use, allottee and lapse date of certain funds previously appropriated from the general fund of the Federated States of Micronesia to fund public projects and social programs in Yap.
Congressional Act 16-8 became Public Law 16-9, which amends Section 11 of Public Law 15-55 to allow a one-time reprogramming of up to $60,000 from the personnel line item of the Department of Foreign Affairs to meet the rent and other costs of the Tokyo mission office associated with the fluctuating yen exchange rate.
Congressional Act 16-11 became Public Law 16-10 which amended portions of the previously passed Public Law 15-73 on Social Security.
This law effectively delays the implementation of reducing the Social Security retirement benefits received by individuals between the ages of 60 and 64 by 50 percent for one year and the implementation of the Social Security tax increase, from 6 to 7 percent, for one year, until Oct. 1, 2010.
The transmittal letter to the FSM Congress expressed that the passage of this act provides substantial relief to the public who are facing the adverse impacts of the global financial crisis.
The Mori administration requests further joint and coordinated efforts from both branches of government in order to find a more enduring solution to the challenges facing the nation’s Social Security program.
