In 1996, I voted to increase the Social Security earnings limit to $30,000, effectively the year after next. In 1998, I voted to increase it even further, up to $39,000. So I am, of course, supportive when the Republican leadership finally gives us an opportunity to take the cap off entirely. This bill may help as many as 5 percent of our most successful seniors. But amid all the self-congratulatory back-slapping that we see here today, let us be sure to understand what this bill is and what it is not. It represents well-justified relief for the top 5 percent. It represents top-down reform, but it does nothing for the 95 percent of the remaining Americans who rely on social security. It does nothing for those seniors whose health does not permit them to work, and who would benefit more from getting access to prescription drugs and an end to the discrimination they face with huge prices they are charged by the pharmaceutical companies. This legislation is very significant to older Americans who have the capacity to keep earning more than $30,000 a year, but in terms of overall reform of the Social Security system, to preserve it for future generations, it is a very modest change. Of all the changes that we can make in this Congress, interestingly enough, this is one of the few that is politically painless. It represents essentially an eat-dessert-first approach to reform.
On the recordMarch 1, 2000
Source
govinfo.govEditor's note · Context
Discussing the implications of a bill to increase the Social Security earnings limit.
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