Congress has approved a Social Security-related measure (H.R. 5) that the President is expected to sign into law. The House originally approved the measure on March 1; it was then amended and approved by the Senate on March 22. The amended version was approved, 419-0, by the House on March 28 (see The Source, 3/24/00, p. 2).
H.R. 5 would eliminate a provision affecting the benefit levels of Social Security recipients age 65 to 69 whose annual earnings exceed a certain threshold. Currently, retirees in that age group lose $1 in benefits for every $3 they earn beyond $17,000. It is estimated that 800,000 to 1 million retirees would be affected by the restriction this year.
Members from across the political spectrum lauded the legislation in floor comments. For example, Rep. Jennifer Dunn (R-WA) said, “Some of our very best workers right now are sitting in rocking chairs because they cannot afford the loss of their Social Security income that would come with continuing their jobs.” Calling the earnings limit an outdated provision left over from the 1930’s, Rep. Dunn added: “Seniors are living longer, healthier lives and…we need their examples and their institutional memories to provide the example to young new workers who are moving into the job market.”
