A bill to amend title II of the Social Security Act, and the Internal Revenue Code of 1954, to increase to $30,000 over a 3-year period (subject to further increases based on rises in reported wage levels) the ceiling on amount of earnings which may be counted for social security benefit and tax purposes.

[AI summary unavailable — showing source text] Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act and the Internal Revenue Code to increase the ceilings on the amount of earnings which may be counted for social security benefit and tax purposes. Sets forth proposed ceiling of $25,300 for calendar year 1976, $16,500 for calendar year 1977, $20,000 for calendar year 1978, $25,000 for calendar year 1979, and $30,000 for calendar year 1980.…