News Release

July 20, 2004

Media Contact: (202) 789-5200

Cato policy expert welcomes bill on Social Security reform

Michael Tanner, director of the Cato Institute's Project on Social Security Choice, made the following comments today regarding the Social Security reform bill sponsored by Rep. Paul Ryan (R-Wis.):

"Rep. Paul Ryan is to be commended for his political courage. Although I may not agree with every detail of this proposal, it represents a significant step forward in the debate over Social Security reform. In particular, Rep. Ryan's proposal shows the growing consensus not just in favor of individual accounts, but in favor of large accounts. By putting forward this plan, he has brought us closer to the day when workers will have true ownership and control over their retirement money."

Michael Tanner is the author of The 6.2 Percent Solution: A Plan for Reforming Social Security. He and Cato Institute president, Edward H. Crane are both available for additional comment on Social Security reform. Please contact the media relations department at 202-789-5200 to arrange an interview.