WASHINGTON (April 6, 2000) – The following statement was released by National Center for Policy Analysis (NCPASM) President John C. Goodman, commenting on the president's expected signing of the Social Security earnings test repeal unanimously approved by both the House and the Senate:
"With the passage of this law we will no longer punish our seniors for working."
The Social Security earnings test had limited the amount of income seniors could earn before losing their Social Security benefits. The bill the president is expected to sign, will repeal the current law which reduces benefits by $1 for every $3 in earnings above $11,280 annually for retirees between 65 and 70 years of age.
The NCPA has been a long time advocate of repealing the earnings test. In 1989, 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 .
NCPA Social Security experts are available to discuss the potential impact of the earnings test repeal on the economy and on the future of the entitlement program.
WHO: NCPA Social Security Experts
WHAT: Social Security Earnings Test Repeal
WHEN: Available Immediately
WHERE: 202/220-3082 – Washington and 972/386-6272 — Dallas