Pro-Privatization Candidates Fare Well

November 14, 2000

While the presidential race is still in question, the Cato Institute's survey of congressional candidate’s views on Social Security reform shows that candidates supporting personal retirement accounts fared well in Tuesday's election. The Cato Institute sent a survey to each candidate for Congress asking them, "Do you favor or oppose Social Security reform that would allow workers to save a portion of their payroll taxes in a personal retirement account?" Via survey responses, public statements or campaign literature positions were determined for approximately half of all candidates. Of those, 139 favoring Social Security privatization won on Election Day, versus 77 victories for those opposing it. Hence, while both houses of Congress will be closely divided, a critical mass of legislators ready to move toward private investment of payroll taxes will be present should the new president be willing to move on the issue. Click here to view the Cato survey of congressional candidates.

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