DeLay Splits With Bush on Private Accounts, “Progressive Indexing”

From Holden:

Sounds like somebody does not want to be Majority Leader anymore.

As President George W. Bush returned the focus to personal investment accounts on Wednesday, Tom DeLay, the House majority leader, said he did not consider them an essential part of a Social Security reform package.

[snip]

The accounts are popular with some Republicans in Congress. “For some members, it’s a must-have,” Mr DeLay said. But Mr DeLay said he had only one strict guideline as work begins on Capitol Hill to craft a reform plan. “The only thing I’m against is raising taxes,” he added.

[snip]

Mr DeLay also reacted cautiously to progressive indexing, the idea Mr Bush endorsed last week that would reduce future benefits for middle- and upper-income workers while preserving them for the poor.

“It has no relevance as a stand-alone solution,” Mr DeLay said.