Goodman Applauds Imminent End Of Social Security Earnings Test
March 07, 2000
WASHINGTON (March 7, 2000) - The following statement was released by National Center for Policy Analysis (NCPASM) President John C. Goodman, commenting on the U.S. Senate's plan to vote on a repeal of the earnings test for Social Security benefits:
"The earnings test is a depression-era relic that punishes people for working. It has no place is today's world.
"Now that the Senate looks to follow in the footsteps of the House in passing this repeal, the NCPA's decade long dream may soon become reality."
The Senate will soon be considering legislation that the House passed last week to eliminate the earnings test. The Senate's bipartisan Earnings Test Elimination Act (S. 2074), introduced by Senator John Ashcroft of Missouri has 35 cosponsors, and is virtually identical to the earning test bill Congressman Sam Johnson of Texas introduced in the House.
The Social Security earnings test limits the amount of income seniors may earn before losing their Social Security benefits. Current law reduces benefits by $1 for every $3 in earnings above $11,280 annually for retirees between 65 and 70 years of age.
1980s, the NCPA released a groundbreaking study on the issue. The study was released at a news conference featuring several young House members, including Reps. Dick Armey and Dennis Hastert.