S 2180 · 106th Congress · Social Welfare

Senior Citizens' Financial Freedom Act

Introduced 2000-03-02· Sponsored by Sen. Abraham, Spencer [R-MI]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2000-03-02)

Plain Language Summary

[AI summary unavailable — showing source text] Senior Citizens' Financial Freedom Act - Amends the Internal Revenue Code (IRC) to terminate a specified increase in the tax on social security benefits after December 31, 2000. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to repeal the limitation on the amount of outside income which beneficiaries who have attained retirement age may earn (earnings test) without incurring a reduction in benefits. Amends the IRC to provide for a graduated increase in age from calendar year 2000 to 2014 and thereafter for required distributions from qualified trusts.…

Summarized by Claude AI · Non-partisan · For informational purposes only