The Ways and Means Committee held a hearing yesterday on Social Security and issues of retirement savings. Democrats used the opportunity to continue to raise objections regarding private savings accounts. Rep. Pete Stark (D-CA), was one of the most vocal, castigating Republicans for spending too much on tax cuts and now finding themselves with a Social Security shortfall. The Ways and Means Subcommittee on Social Security will hold two more hearings on May 24 and 26. Thomas is hoping to complete legislation this summer. Meanwhile, Bush continues to promote his plan (despite an ongoing lack of support) across the country, stopping in Milwaukee yesterday. Besides pushing his own plan, Bush has been extremely critical of Democrats for not offering alternative proposals to fix Social Security. Yesterday, however, Rep. Robert Wexler (D-FL) filed legislation that combats the shortfall by lifting the earnings cap on taxable wages. His plan, called the Social Security Forever Act of 2005, would lift the cap on taxable earnings requiring workers to pay a 3 percent payroll tax on wages above $90,000, to be matched by the employer. Wexler's reform plan, which has been reviewed by the CBO, completely closes the funding gap in Social Security without cutting benefits, creating private accounts, borrowing, or adding any elements of risk to the benefits collection process.