House Democrats, opposed to fixing Social Security with personal retirement accounts, unveiled a ??¢â???¬?????retirement security??¢â???¬ plan that does absolutely nothing to address the long-term problems facing the program. Democrats are calling their plan AmeriSave, boasting it would encourage participation in 401(k) retirement accounts and individual retirement accounts (IRAs). Small businesses that set up retirement plans for their employees would get tax credits. Meanwhile, no action is expected on the Republicans??¢â???¬â???¢ Social Security reform bill??¢â???¬ ¦quot;the Stop the Raid on Social Security Act, sponsored by Sen. Jim DeMint (R.-S.C.)??¢â???¬ ¦quot;until sometime this fall. House Ways and Means Chairman Bill Thomas (R.-Calif.) continues to push his own agenda on the issue, most recently saying he wants to include pension reform and a boost for private savings in the legislation.
