Roth Declares Victory with Passage of the Social Security Earnings Limit Repeal
WASHINGTON -- Senate Finance Committee Chairman William V. Roth, Jr. (R-DE) today hailed Senate passage of legislation that will allow seniors to work without having their Social Security benefits reduced. At a press conference following final passage, Roth delivered the following remarks:
"The Senate has just voted to repeal the Social Security earnings limit, and that is good news for Americans of all ages," Roth stated. "This repeal is good for seniors, it is good for America, and it is good government.
"When the earnings limit was enacted, it may have made sense. With today's booming economy and longer life expectancies, this rule is harmful to the economy and to seniors.
"Many seniors today want to continue to work. Repealing the earnings limit will help improve the retirement security of seniors by giving them the choice to work longer and save more.
"It is not fair to discourage older workers who want to continue to contribute to society and to our economy. We need their experience and businesses across America today need their help. This legislation is about giving seniors the freedom to choose how they want to live in retirement."
"Finally, repealing the earnings limit is good government. It will save the Social Security Administration money and reduce very common, frustrating mistakes in calculating benefits. The Republican Congress has balanced the budget, strengthened Medicare, lowered taxes, expanded health care for children and the disabled, reformed the IRS and protected the Social Security trust fund. Today we have added one more historic accomplishment to that list."
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