February 29, 2000

House Committee On Ways And Means Marks Up H.R. 5 The "Senior Citizens' Freedom To Work Act Of 2000"

On February 29, 2000, the House Committee on Ways and Means marked up H.R. 5, the "Senior Citizens' Freedom to Work Act of 2000." The House will consider the bill on March 1, 2000.

As reported by the full committee, the bill would eliminate the Social Security retirement earnings test in and after the month in which a person attains normal retirement age.

Elimination of the retirement test would be effective with respect to taxable years ending after 12/31/99.

The current law regarding the retirement earnings test would apply to those individuals attaining age 65 in calendar year 2000 for the months before they attained age 65.