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Higher Earnings for Seniors Without Benefit Loss in 2020 and 2021.

This act increases the amount working seniors can earn in 2020 and 2021 before their Social Security benefits are reduced. This means that individuals receiving retirement benefits and working simultaneously can earn more without worrying about their benefits being lowered. The goal is to provide financial support to seniors during the challenging pandemic period.
Key points
Increased earnings limit for seniors receiving Social Security benefits in 2020 and 2021.
Seniors can earn more money without their retirement benefits being reduced.
The change is temporary and applies to the 2020 and 2021 tax years.
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Additional Information
Print number: 117_HR_1601
Sponsor: Rep. Walorski, Jackie [R-IN-2]
Process start date: 2021-03-03