Grassley Comments on Passage of Social Security Earnings Limit

Grassley Comments on Passage of Social Security Earnings Limit

Today the Senate passed a bill to repeal the Social Security earnings limit on workers ages 65 to 69. The House approved the repeal on March 1. Sen. Chuck Grassley ? chairman of the Special Committee on Aging ? is an original co-sponsor of a bill to repeal the earnings limit. That bill is the Social Security Earnings Test Elimination Act of 2000, S. 2074, introduced by Sen. John Ashcroft on Feb. 22. The repeal is also part of the Bipartisan Social Security Reform Act, S. 1383, sponsored by Grassley and Sens. Bob Kerrey, Judd Gregg and John Breaux. Grassley also has successfully worked to increase the earnings limit to $30,000 by 2002. Grassley made the following comment on today's vote.

"People are living longer. They want to work longer. The government shouldn't get in the way. Older workers have paid into Social Security their entire careers. They deserve to receive their Social Security benefits and earn income without facing a stiff penalty. Many Iowans have contacted me in frustration over this issue. About 7,400 Iowans ages 65 to 69 lose Social Security benefits each year by continuing to work. I hope President Clinton signs the bill right away. We need to get the job done so older Americans can go back to work if they want.

"The earnings limit is a good example of Social Security showing its age. Now that we've fixed that problem, we need to bring the rest of the program into modern times. We have to continue pushing for passage of our bipartisan legislation to improve and strengthen Social Security for future generations of older Americans."