Commission backs Social Security change
A presidential commission unanimously approved recommendationstoday that would allow younger workers to invest a portion of theirSocial Security contributions in the stock market. In some cases,benefits would be cut. Rather than agree on a single option, thecommission decided to send to President Bush three separate proposalsfor private investment accounts. Each would require the government toprovide significant funds for the transition. Estimates range from$1.3 billion to $71 billion with 100 percent participation. Thereport does not offer examples of how much benefits would be cut.
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