Congress likely to change Bush's (Soc Sec. ) proposal

Rep. Jim McCrery (R-LA) says higher taxes and lower benefits in Social Security along with letting workers invest part of their Social Security tax into personal accounts - But the President has to take the lead. Although Bush has said no increase in payroll taxes is one of his principles, McCrery said he is not taking a similar position."McCrery said the final bill could include more revenue, perhaps by raising the amount of income subject to payroll taxes. He also said it could include reductions in future benefits."


http://www.usatoday.com/news/washington/2005-01-18-social-security-panel_x.htm

Congress likely to change Bush's proposal

By William M. Welch, USA TODAY
WASHINGTON — The new Republican point man on Social Security in the House of Representatives said Tuesday that he doesn't rule out higher taxes and reductions in future benefit growth as part of a bill that would create personal retirement accounts.

Rep. Jim McCrery, R-La., also said President Bush will have to offer a more detailed proposal for Social Security than he has thus far if an overhaul of the program is to pass Congress by the end of the year.

"In an issue this big, the president has to take the lead," McCrery told USA TODAY. "Eventually, the president has to offer a plan."

McCrery, a 17-year House veteran, is the new chairman of the House Ways and Means Committee's panel on Social Security. His subcommittee will be charged with writing a Social Security bill that Bush calls his top domestic priority. Bush's proposal will be a starting point, but Congress is likely to make changes, McCrery said.
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