A bill to amend title II of the Social Security Act to remove the limitation on outside earnings under the OASDI program, and to amend the Internal Revenue Code of 1986 to eliminate the income tax on social security benefits and exempt individuals age 70 or over from the FICA and SECA taxes.
Retirement Equity Act of 1988 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn without incurring a reduction in benefits.
Amends the Internal Revenue Code to repeal the taxation of social security benefits and tier I railroad retirement benefits. Prohibits the imposition of social security taxes on the wages or self-employment income of individuals aged 70 and over.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Social Security.
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