SALUTES CONGRESS FOR REPEALING SOCIAL SECURITY EARNINGS LIMIT
in Georgia will be helped by enactment of bipartisan Senior Citizens
Freedom to Work Act"
March 28, 2000
Today, Congresswoman Cynthia Mckinney (D-GA) praised the House of
Representatives for passing the bipartisan bill, H.R. 5, repealing
the Social Security earnings limit, that included a Senate technical
amendment, and sending the bill to President Clinton's desk for
his signature. The Senate technical amendment clarifies that the
earnings limit would be repealed and effective immediately in the
month that a senior reaches their 65th birthday.
The earnings limit originated in the
1930's and it remains despite the vast changes in the economy and
the lives of senior citizens that have taken place over the last
60 years. Under current law, seniors who claim Social Security benefits
before they reach 69 are subject to a reduction in benefits if they
continue to work. For seniors 65 to 69, benefits are reduced by
one dollar for every three dollars that their earnings exceed the
limit - $17,000 in 2000, rising to $30,000 in 2002 and indexed after
that. H.R. 5 would repeal this limit entirely, effective immediately.
"The Senior Citizens Freedom to
Work Act would help the senior citizens in Georgia who are
being penalized for working," McKinney said. "It makes no sense
to penalize senior citizens for participating in the workforce.
People remain healthy and vigorous longer than they did in the 1930's
and it makes sense to repeal this obsolete and punitive limit,"