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Social Security Earnings Test Bill Passed

Wed, 03/22/2000 - 12:00am — Karen Stevenson
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The Senate today unanimously passed HR 5, the Social Security Act Earnings Bill. It now goes to Clinton for approval, and he has promised to swiftly do so. This bill will eliminate the earnings test which currently reduces Social Security benefits for beneficiaries age 65-69 who earn $17,000 a year or more, so that they lose $1 in benefits for every $3 in earnings. Once signed, the bill will immediately become effective, and will retroactively apply back to the beginning of this year. This means that no Social Security benefits will be lost this year by beneficiaries who have stayed in the work force.

The Senate today unanimously passed HR 5, the Social Security Act Earnings Bill. It now goes to Clinton for approval, and he has promised to swiftly do so. This bill will eliminate the earnings test which currently reduces Social Security benefits for beneficiaries age 65-69 who earn $17,000 a year or more, so that they lose $1 in benefits for every $3 in earnings. Once signed, the bill will immediately become effective, and will retroactively apply back to the beginning of this year. This means that no Social Security benefits will be lost this year by beneficiaries who have stayed in the work force.