Bush Switching Priority From Social Security to Taxes (Update2)

Oct. 5 (Bloomberg) -- The Bush administration is beginning to segue from its failed effort to overhaul Social Security to rewriting the tax code, an issue that is fraught with its own political challenges.

President George W. Bush said yesterday there is a ``diminished appetite'' for changing the way Social Security is funded, the first time he's conceded congressional action is unlikely this year. His comments came four days after the White House directed its tax advisory panel, headed by former Senators Connie Mack and John Breaux, to recommend ways to revamp the tax code by Nov. 1, ending an indefinite delay in its work.