Grassley Favors Private Account Concept

A powerful, moderate senator says he supports the idea of giving taxpayers some control over Social Security assets.[@@]

Sen. Charles Grassley, R-Iowa, chairman of the Senate Finance Committee, said today at a speech in Washington that the Bush administration proposal to offer workers some control over investment of Social Security program contributions now has little momentum.

“Nobody in Congress wants to deal with it,” Grassley said.

But Grassley said he personally supports the concept and hopes to make Social Security private accounts a priority this summer.