[Congressional Record Volume 141, Number 169 (Monday, October 30, 1995)]
[Extensions of Remarks]
[Page E2068]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         THE 7 YEAR BALANCED BUDGET RECONCILIATION ACT OF 1995

                                 ______


                               speech of

                           HON. JERRY WELLER

                              of illinois

                    in the house of representatives

                       Thursday, October 26, 1995

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 2491) to 
     provide for reconciliation pursuant to section 105 of the 
     concurrent resolution on the budget for fiscal year 1996:

  Mr. WELLER. Mr. Chairman, I come to the well today to speak in favor 
of the Republican plan to allow seniors to increase their earnings 
without being penalized. Senior citizens made this country strong with 
their long and arduous labors year in and year out. They taught me and 
my generation how to profit from a strong work ethic. Yet, we need to 
stop punishing them for their desire to remain active. We need to 
recognize that many seniors want to work longer. We need to reward 
those who continue to work or operate a business. We can no longer 
force them to choose between an active and productive life and Social 
Security benefits.
  Under current law, seniors between the ages of 65 and 69 lose $1 in 
benefits for every dollar they earn over $11,160. This earnings test 
amounts to an additional 33 percent marginal tax rate. This marginal 
rate is on top of the taxes they already pay on their earnings. This 
draconian test punishes seniors who want to work beyond the age of 64.
  It is unconscionable that in times of shrinking fiscal resources at 
the Federal level, that we would punish seniors who seek to remain 
financially independent. With so severe an earnings limit we 
essentially force them to become more reliant on Government spending 
and congressional action. Such an unhealthy reliance undermines the 
self esteem of seniors and makes the governing role of Congress more 
difficult.
  Our proposal today, would raise the earning potential of seniors to 
$30,000 over 5 years and more immediately they can earn $15,000 
beginning on January 1, 1996. This change goes a long way to providing 
equity to the hard working seniors of this great country and I am proud 
to be associated with it.

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