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Ted Cruz says 'Trump Accounts' could be personal Social Security accounts

newsMay 8, 202644269

Sen. Ted Cruz said at a public conference that the GOP's so-called Trump Accounts could operate as personal Social Security accounts. Cruz said the accounts, created in the GOP's 2025 budget law, could revive privatization efforts President George W. Bush abandoned. That design would move Social Security away from a guaranteed, defined-benefit system toward individual accounts, potentially reducing lifetime guaranteed benefits and shifting market risk onto workers.

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