Thomas Says ‘All Options' on Table in Social Security Debate

NEW YORK -- House Ways and Means Committee Chairman Bill Thomas said all options must be on the table as he prepares for hearings beginning next week on ways to shore up the Social Security retirement program, Bloomberg News reported Thursday.

Democrats in the House and Senate have said they won't discuss any plan that includes President Bush's proposal for private investment accounts using the Social Security payroll tax.

“You can't rule out anything or you're never going to be able to make law,'' Thomas said in an interview. “The minute you start ruling out stuff at the beginning of process it means you've already narrowed your options and it's hard enough to make law in this environment.''

Thomas, a California Republican, last week said the hearings will begin May 12 and may produce legislation in early June.

-- NYSSCPA.org News Staff

Posted on 5/5/05