National Notes

Congress Votes to Repeal 
S.S. Earnings Limit

After three decades of failed similar legislation, the House and Senate have both passed a bill to repeal the Social Security earnings limit that has been in place since the Depression. The earnings limit reduces Social Security benefits by $1 for every $3 a beneficiary earns over $17,000.

President Clinton has already indicated he will sign the bill into law. According to Social Security Commissioner Kenneth Apfel, "We are working hard to ensure that Social Security beneficiaries who are affected by the new law will have money in their pockets quickly." This should be good news for the thousands of Social Security beneficiaries who have forfeited much or all of their benefits to continue working.