A bill to amend title II of the Social Security Act to increase to $4,800 the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted each year without any deductions from benefits thereunder, and to reduce the rate at which such deductions are made on account of earnings exceeding such amount.

[AI summary unavailable — showing source text] Increases to $4,800 the amount of outside earnings which is permitted each year without any deductions from benefits under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act. Reduces the rate at which deductions are made on earnings exceeding $4,800 from 50 percent of such excess to $1 for each $3, or fraction thereof.…