To increase the exempt amount applicable for the retirement earnings test for months in 2020, and for other purposes.

Bill: 116-hr-6554
Sponsor: full_name: Rep. Walorski, Jackie [R-IN-2]
Introduced: 2020-04-17
Policy area: Social Welfare
Subjects: Social security and elderly assistance

Wages and earnings
Latest action: action_date: 2020-04-17
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2020-04-17
action_desc: Introduced in House
text: <p>This bill temporarily increases the income limit for individuals who are younger than full retirement age to receive Old-Age, Survivors, and Disability Insurance benefits without reductions. Specifically, the bill increases the limit on income earned during 2020 to the contribution and benefit base (i.e., the maximum amount subject to the Social Security payroll tax, set at $137,700 for 2020).</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6554 IN THE HOUSE OF REPRESENTATIVES April 17, 2020 Mrs. Walorski introduced the following bill; which was referred to the Committee on Ways and Means A BILL To increase the exempt amount applicable for the retirement earnings test for months in 2020, and for other purposes.

1. Determination of exempt amounts for 2020 (a) In general For purposes of subsection (b) of section 203 of the Social Security Act ( 42 U.S.C. 403 ) and notwithstanding subsection (f)(8)(B) of such section, the exempt amount which is applicable to all individuals (including individuals described in subsection (f)(8)(D) of such section) for months in the taxable year ending after 2019 and before 2021 shall be an amount equal to the contribution and benefit base determined under section 230 of such Act with respect to remuneration paid (and taxable years beginning) in calendar year 2020. (b) Determination of exempt amounts for months after 2020 For purposes of determining exempt amounts for months in taxable years beginning after 2020, section 203(f)(8) shall be applied as if exempt amounts for months in the taxable year ending after 2019 and before 2021 had been determined under such section without regard to subsection (a).