A bill to amend title II of the Social Security Act to increase the amount which individuals may earn without suffering deductions from benefits due to excess earnings.

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase to $4,800 the amount of outside earnings which is permitted an individual each year without any deduction from benefits under such Title. Decreases the amount of deduction for such excess wages from 50 to 33 1/3 percent. Imposes a 50 percent deduction on all income over $9,600.