Text: H.R.2668 — 104th Congress (1995-1996)All Information (Except Text)

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Introduced in House (11/20/1995)

 
[Congressional Bills 104th Congress]
[From the U.S. Government Printing Office]
[H.R. 2668 Introduced in House (IH)]

  1st Session
                                H. R. 2668

 To amend title II of the Social Security Act to provide for increases 
in the amounts of allowable earnings under the social security earnings 
        limit for individuals who have attained retirement age.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 20, 1995

  Mr. Bunning of Kentucky (for himself, Mr. Hastert, Mr. Archer, Mr. 
      McCollum, Mr. Ewing, Mr. Bilirakis, Mr. Cooley, Mr. Fox of 
 Pennsylvania, Mr. Lewis of Kentucky, Mr. English of Pennsylvania, Ms. 
   Dunn of Washington, Mr. Hastings of Washington, Mr. Emerson, Mr. 
  Bachus, Mr. Armey, Mr. Roberts, Mr. Porter, Mr. Ney, Mr. Oxley, Mr. 
Riggs, Mr. Stump, Mr. Hancock, Mr. Whitfield, Mr. Jones, Mr. Camp, Mr. 
    Boehner, Mrs. Vucanovich, Mr. Herger, Mr. Horn, Mrs. Johnson of 
  Connecticut, Mr. Schiff, Mr. Goss, Mr. Christensen, Mr. Crane, Mr. 
 Ensign, Mr. Shaw, Mr. Houghton, Mr. Barr of Georgia, Mr. Chabot, Mr. 
Fields of Texas, Mr. Collins of Georgia, Mr. Sam Johnson of Texas, Mr. 
Bass, Mrs. Fowler, Mr. Thomas, Mr. Bereuter, Mr. Nussle, Mr. Barton of 
 Texas, Mr. Coble, Mr. Foley, Mr. Bliley, Mr. Manzullo, Mr. Chambliss, 
   Mr. Ehrlich, Mr. Ramstad, Mr. Kolbe, Mr. Largent, Mr. Bartlett of 
 Maryland, Mr. Greenwood, Mr. Funderburk, Mr. Mica, Mr. Laughlin, Mr. 
Wicker, Mr. Smith of New Jersey, Mr. McCrery, Mr. Flanagan, Mr. Saxton, 
    Mr. Lucas, Mr. Heineman, Mr. Norwood, Mr. Salmon, Mr. Smith of 
 Michigan, Mr. Stearns, Mr. Inglis of South Carolina, Mr. Thornberry, 
Mr. McIntosh, Mr. Boehlert, Mr. Hostettler, Mr. LaTourette, Mr. Hansen, 
Mr. Portman, Mr. Zimmer, Mr. Rogers, Ms. Molinari, and Mr. Torkildsen) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend title II of the Social Security Act to provide for increases 
in the amounts of allowable earnings under the social security earnings 
        limit for individuals who have attained retirement age.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Senior Citizens' Right To Work Act 
of 1995''.

SEC. 2. ADJUSTMENTS IN MONTHLY EXEMPT AMOUNT FOR PURPOSES OF THE SOCIAL 
              SECURITY EARNINGS LIMIT.

    (a) Increase in Monthly Exempt Amount for Individuals Who Have 
Attained Retirement Age.--Section 203(f)(8)(D) of the Social Security 
Act (42 U.S.C. 403(f)(8)(D)) is amended to read as follows:
            ``(D) Notwithstanding any other provision of this 
        subsection, the exempt amount which is applicable to an 
        individual who has attained retirement age (as defined in 
        section 216(1)) before the close of the taxable year involved 
        shall be--
                    ``(i) for each month of any taxable year ending 
                after 1995 and before 1997, $1,166.66\2/3\,
                    ``(ii) for each month of any taxable year ending 
                after 1996 and before 1998, $1,250.00,
                    ``(iii) for each month of any taxable year ending 
                after 1997 and before 1999, $1,333.33\1/3\,
                    ``(iv) for each month of any taxable year ending 
                after 1998 and before 2000, $1,416.66\2/3\,
                    ``(v) for each month of any taxable year ending 
                after 1999 and before 2001, $1,500.00,
                    ``(vi) for each month of any taxable year ending 
                after 2000 and before 2002, $2,083.33\1/3\, and
                    ``(vii) for each month of any taxable year ending 
                after 2001 and before 2003, $2,500.00.''.
    (b) Conforming Amendments.--
            (1) Section 203(f)(8)(B)(ii) of such Act (42 U.S.C. 
        403(f)(8)(B)(ii)) is amended--
                    (A) by striking ``the taxable year ending after 
                1993 and before 1995'' and inserting ``the taxable year 
                ending after 2001 and before 2003 (with respect to 
                individuals described in subparagraph (D), for taxable 
                years ending after 2002) or the taxable year ending 
                after 1993 and before 1995 (with respect to other 
                individuals)''; and
                    (B) in subclause (II), by striking ``for 1992'' and 
                inserting ``for 2000 (with respect to individuals 
                described in subparagraph (D), for taxable years ending 
                after 2002) or 1992 (with respect to other 
                individuals)''.
            (2) The second sentence of section 223(d)(4) of such Act 
        (42 U.S.C. 423(d)(4)) is amended by striking ``the exempt 
        amount under section 203(f)(8) which is applicable to 
        individuals described in subparagraph (D) thereof'' and 
        inserting the following: ``an amount equal to the exempt amount 
        which would be applicable under section 203(f)(8), to 
        individuals described in subparagraph (D) thereof, if section 2 
        of the Senior Citizens' Right to Work Act of 1995 had not been 
        enacted''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to taxable years beginning after 1995.
                                 <all>