A bill to amend title II of the Social Security Act to provide for annual increases in the amount which individuals may earn without suffering deductions from benefits on account of excess earnings, and in a series of steps to lower to age 65 the age after which deductions from benefits are no longer imposed on account of excess earnings.

Provides for annual increases in the amount which individuals may earn under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act without suffering deductions from benefits on account of excess earnings. Lowers progressively to age sixty-five the age after which deductions from benefits are no longer imposed on account of excess earnings.