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GOP Social Security bill eschews private investment accounts
Wednesday, June 22, 2005

WASHINGTON -- President Bush yesterday encouraged a Republican senator to offer Social Security legislation that would not include private investment accounts.

But the White House said Bush still was committed to allowing workers to invest part of their Social Security taxes.

Bush's nod to Utah Sen. Bob Bennett's plan comes as public polls show that most Americans do not support the president's handling of the Social Security issue. Congress has been deadlocked over it.

Bennett said that during a luncheon with other GOP senators at the White House, he told the president of his plans to introduce the bill as early as next week. "He indicated that I should go forward and do that," Bennett said. The White House said the president is encouraging all members of Congress to offer their ideas to make the Social Security system solvent. "This in no way should be interpreted to mean that the president is backing off of personal accounts," White House spokesman Trent Duffy said. "He is not."

Since the beginning of his second term, Bush has been pushing to allow younger workers to create voluntary personal accounts funded out of their Social Security payroll taxes. Democrats accuse the White House of seeking to privatize the Depression-era program and have been unified in opposition to the idea.

Bennett said some Democrats have told him privately that they would support his bill, but he is not sure how many will be on board publicly, now that he's introducing the legislation.

First published on June 22, 2005 at 12:00 am
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