February 22,2000

Roth Leads on Earning Limit Repeal

Repealing the Earnings Limit is Good for America's Seniors, Good for Social Security, and Good for the Economy

WASHINGTON -- Senate Finance Committee Chairman William V. Roth, Jr. (R-DE) today released the following statement on repealing the earnings limit:

"I strongly endorse prompt action to repeal the earnings limit for seniors over 65. In 1996, we took a big step in lifting the earnings limit, but now is the time to uncap it," Roth stated. "Eliminating the earnings limit is good for the financial security of seniors, good for Social Security, and good for the economy.

"The earnings limit is an outdated incentive to stop working, and making the choice to work longer can improve the financial security of seniors. The earnings limit is also expensive and confusing for the Social Security Administration to administer. And we need more workers, not just for today's booming economy, but even more in the coming decades. I expect the Senate to act promptly on repeal."