Senators involved in the informal talks said they openly discussed possible reforms that have been on the table for some time, including Raising the taxable wage ceiling or changing the retirement age for retirement.
However, lawmakers are looking for areas of potential bipartisanship.
One idea that has emerged in ongoing conversations is a special investment fund that members say it would help shore up the program’s solvency after a recent estimate put the exhaustion date at less than a decade.
Sen. Mitt Romney (R-Utah), one of the senators involved in the effort, said the idea would allow the country “to borrow at low interest rates and invest in the growth of our economy and perhaps the economies of other nations.”
“It’s what other bond funds are doing around the world, in corporates and in the railroad world, and it creates a sizeable revenue stream,” he told The Hill, adding that if the investments “weren’t doing so well, we would get in.” through other sources and ensure that we do not in any way compromise the benefits of the recipients.”
Senators have kept a low profile on other proposals under discussion as the group works to prevent the talks from becoming politicized amid a high-level partisan struggle Brewing over the nation’s debt ceiling.
“It’s a really easy third rail that can be used on either side of the aisle if you want to track an opponent,” said Sen. Mike rounds (RS.D.), another senator involved in the talks, said this week, describing efforts to “keep out presidential politics.”
Lawmakers are hoping they may have a plan later this year.
“I really hope so,” said Sen. Bill Cassidy (R-La.) told reporters when asked about the prospect on Wednesday.
Read the full report at TheHill.com.
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