Republican House leaders, once reluctant to be out front on Social Security reform, are now aiming to have a vote later this month on a plan that would create personal retirement accounts and address the programâ€™s solvency problems. â€œI see this as a first step,â€ House Speaker Dennis Hastert (R.-Ill.) told reporters Wednesday. â€œWe need to solve this first step.â€ In recent weeks, the GOP has rallied around a plan sponsored by Sen. Jim DeMint (R.-S.C.) and Representatives Jim McCrery (R.-La.) and Rep. Paul Ryan (R.-Wis.). The bill stipulates that the Social Security surplus be used only for Social Security and that the surpluses be saved in personal accounts.
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