A bill to amend title II of the Social Security Act to increase the annual amount which individuals may earn without suffering deductions from their social security benefits, and to provide a graduated reduction in benefits for widows and widowers who remarry.

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase to $5,040 the amount of outside earnings which is permitted an individual each year without any deduction from benefits.

Directs that if an eligible widow or widower marries, such individual's insurance benefit shall be reduced over a five-year period, commencing with the year following the year of such marriage, until such insurance benefit equals one-half of the primary insurance amount of the deceased individual on whose wages and self-employment income such benefit is based.