Summary and Analysis of Senator DeMint’s “Stop the Raid on Social Security Act of 2005”

Ed Lorenzen

Senators Jim DeMint, Rick Santorum and Lindsay Graham introduced legislation this week that would establish individual accounts that will serve as “personal lockboxes” to save Social Security surpluses. While the sponsors of this bill acknowledge that it will not resolve the financial problems facing Social Security, it could make a useful down payment on reform by establishing a mechanism to save money to pay for future retirement costs. However, a companion bill introduced in the House has serious flaws that could undermine the goals of budget transparency and advancing the prospects for comprehensive reform.

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Ways and Means Mock-Up Document Makes Constructive Improvements in DR-CAFTA

The agreement strengthening the labor commitments in the Central American Free Trade Agreement (CAFTA) negotiated by Congressman William Jefferson and Ways and Means Chairman Bill Thomas represents a constructive response to the concerns that have been raised about the agreement. This agreement further strengthens the labor provisions in CAFTA and should form the basis for rebuilding the bipartisan consensus on trade.

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