Senior Citizens' Freedom to Work Act

Summary

Senior Citizens' Freedom to Work Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to increase the monthly exempt amount, under the earnings test, for individuals who have attained retirement age. Sets forth the schedule of monthly adjustments increasing from $1,208 for taxable year 1996 to $2,500 for taxable year 2002. Subjects such increased amounts to current law cost-of-living adjustments after 2002. Requires the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund to increase by a specified percentage per year the rate of interest borne by public-debt obligations issued for purchase by the OASDI trust funds between September 30, 1995, and October 1, 2002. Provides that each nonexempt account within the discretionary spending category for each of FY 1996 through 2002 shall be reduced, if necessary, by the uniform percentage necessary to offset the Federal Old-Age and Survivors Insurance Trust Fund shortfall resulting from the amendments of this Act increasing the monthly exempt amount. Directs the Comptroller General to analyze and report to the Congress on the dynamic effect of the revision of the social security earnings limit made by this Act and a calculation of its true effect on the Federal budget.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 31 October 1995

   Introduced

   Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

   Source: Calendars

2. 31 October 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 1 November 1995

   Calendars

   Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 219.

   Source: Calendars

4. 2 November 1995

   Floor

   Measure laid before Senate. (consideration: CR S16575-16589)

   Source: Floor

Votes

No vote records are attached yet.

Versions

• Referred to Committee Senate · 2 November 1995 · Download file
• Placed on Calendar Senate · 1 November 1995 · Download file

Documents

5 official files

• Referred to Committee Senate (text)

  Referred to Committee Senate · EN · 2 November 1995

  ViewDownloadOpen at official source

• Referred to Committee Senate (PDF)

  Referred to Committee Senate · EN · 2 November 1995

  ViewDownloadOpen at official source

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  Vertaal document

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• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 1 November 1995

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  Vertaal document

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 1 November 1995

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  Vertaal document

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• Introduced in Senate

  summary · EN · 31 October 1995

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. McCain, John [R-AZ] · R · Sponsor
• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Cosponsor
• Sen. Santorum, Rick [R-PA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Expressing the sense of the Congress regarding the need for raising the social security earnings limit.
• related to ← Senior Citizens' Right to Work Act of 1995
• amends ← To express the sense of the Senate to amend the Social Security Act to increase the earnings limit, and for other purposes.