[Congressional Record Volume 141, Number 198 (Wednesday, December 13, 1995)]
[Senate]
[Page S18553]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   SENIOR CITIZEN FREEDOM TO WORK ACT

  Mr. DOLE. Mr. President, I am pleased to introduce the Senior 
Citizens' Freedom to Work Act with my colleagues, Senators McCain and 
Roth.
  This bill would provide long overdue relief for our senior citizens. 
It would remove a significant impediment that deters seniors from 
continuing to work. Under the bill, seniors could earn up to $30,000 by 
the year 2002 without affecting their Social Security benefits.
  I intend to work for enactment of the legislation this year to begin 
immediately lifting the unreasonably low earnings limit. We will phase 
in the increase over the next 7 years from the current level of $11,280 
to $30,000.
  This legislation is important for the economy. Continuation of the 
current policy, which does not utilize the experience and productivity 
of our seniors, is wasteful and short-sighted.
  This legislation is also important for the protection of the Social 
Security and Medicare trust funds. The bill clarifies that the 
Secretary of the Treasury is not authorized to under invest and/or 
disinvest Social Security and Medicare trust fund monies in Federal 
securities or obligations in order to avoid the limitations on the 
public debt.
  I urge my colleagues in the Senate to support this effort. 
Specifically, I urge my colleagues on the Finance Committee to join 
with me to report the bill out of committee tomorrow.

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