A bill to amend title II of the Social Security Act, and the Internal Revenue Code of 1954, to increase to $28,500 over a 3-year period subject to further increases based on rises in reported wage levels the ceiling on the amount of earnings which may be counted for social security benefit and tax purposes.

Increases, under the Social Security Act and the Internal Revenue Code, the ceiling on the amount of earnings which may be counted for social security benefit and tax purposes.

Sets forth proposed ceilings of $15,300 for calendar year 1976, $22,200 for calendar year 1977, $26,100 for calendar year 1978, and $28,500 for calendar year 1979.