A bill to amend title II of the Social Security Act to liberalize the earnings test, to provide that cost-of-living benefit increases shall be made semiannually (and on the basis of a separate senior citizen price index), and to provide that the remarriage of a beneficiary shall not terminate or reduce his or her benefits.

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act: (1) to increase to $7,500 the amount of outside income which an individual may earn in a year without a reduction in the amount of benefits received; (2) to end the practice of reducing, because of the excess earnings of an individual, the benefits to which other persons are entitled because of their relationship to such individual; and (3) to reduce from 72 to 70 the age at which no reduction will be made from an individual's benefits regardless of the amount of outside income.

Directs the Secretary of Labor to prepare a Senior Citizens Price Index to provide data in determining cost-of-living increases in benefits for recipients age 65 or older. Directs the making of semiannual cost-of-living increases in benefits.

Eliminates marital status as a factor in determining whether a recipient of social security benefits should have his or her entitlement reduced or terminated.