The Nation - News from June 11, 1989

Senate Finance Committee Chairman Lloyd Bentsen (D-Tex.) said he will press for legislation to boost the income that a Social Security recipient can earn from a job without losing benefits. Bentsen said his proposed change would allow a recipient over age 65 to earn $10,620 in 1990 without any benefits penalty. Under current law the limit would be $9,360 next year. Earnings from other sources, such as stocks, interest and pensions, are exempt from the cap and would not be affected by his plan. The senator said under his amendment a person age 65 to 69, earning $15,000 and receiving $8,000 in Social Security benefits, would lose $1,095 in benefits next year, compared to $1,880 under existing law.