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Committee on Ways and Means For Immediate Release Shaw Welcomes Daschle to the Social Security Debate-- Daschle Calls for the Use of Personal Accounts to Strengthen System WASHINGTON -- Saving and strengthening Social Security gained momentum today when Senate Majority Leader Tom Daschle expressed his willingness to utilize personal accounts to secure America's retirement. "Today, Senator Daschle expressed a seriousness about addressing Social Security's financial challenges and he acknowledged that personal accounts would strengthen the program. This is a significant step forward in preserving Social Security for our kids and grandkids," said Chairman E. Clay Shaw, Jr. of the Social Security Subcommittee. "Since my legislation meets the criteria noted in Mr. Daschle's press statement, I invite him to review H.R. 3497 and consider introducing a companion bill in the Senate," urged Shaw. “Fiscal responsibility demands that we save Social Security sooner rather than later, and in a bipartisan way," Shaw added. "We must legislate for the next generation, not the next election." The Social Security Guarantee Plus Plan, H.R. 3497, guarantees promised benefits to retirees, near retirees, and all workers with no tax increases, no government investing, and no individual investment risk. It fully preserves disability and survivor benefits, provides workers the opportunity to own voluntary personal retirement accounts that secure and supplement benefits for everybody. In addition, the Guarantee Plus Plan enhances Social Security benefits for widows, working parents, divorced spouses, spouses with work not covered by Social Security, and eliminates the senior earnings penalty. Shaw's Social Security Guarantee Plus Plan, http://www.house.gov/shaw/ssindex.html AARP Statement on Shaw's Plan http://www.house.gov/shaw/aarp_rel.pdf |