Social Security Plan

Social Security Choice blogged From CQ.com ($):

House Ways and Means Chairman Bill Thomas is nearly ready to unveil his long-awaited Social Security plan and is urging Republican leaders to prepare for floor action in July. Thomas wants to package his Social Security changes with a pension law overhaul being fashioned in an Education and the Workforce subcommittee this week.Another key component of the mega-bill Thomas has in mind would be the tax break at the top of the wish list of many investors: erasing the 2008 expiration date on the 15 percent top income tax rate on capital gains. The chief tax writer wants to move his retirement package as soon as possible. A senior House Republican said Thomas, R-Calif., could unveil his plan as early as this week. “I suggest no one take a vacation next week,” Thomas told reporters on June 17.

This is going to be a MONSTER BILL. If I were a betting man, I suspect Thomas will provide support for DeMint’s Social Security proposal somewhere in his bill. Stay tuned…

We discussed earlier What A Social Security Deal Could Look Like, and we also discussed that Social Security plan backed in new poll and Social Security Reform is going to happen. As Andrew Roth said, the DeMint social security bill. I personally would rather see the DeMitt plan voted on by itself; lumping it in with removing the 2008 expiration date on capital gains and pension law reform may make it impossible to get through the Senate, and having too many things in one bill may make it harder to use against the Dems in 2006, but at least we are seeing some action.