A bill to amend title II of the Social Security Act to increase to $5,000 the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted an individual each year without any deductions from benefits thereunder, and to provide that earnings in excess of that figure will reduce benefits by only one-third of the excess (rather than by one-half as at present).

Increases to $5,000 the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted an individual each year without any deductions from benefits under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act. Provides that earnings in excess of that figure will reduce benefits by only one-third of the excess (rather than by one-half as at present).