A bill to amend title II of the Social Security Act to increase the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted each year without any deductions from benefits thereunder, and to revise the method for determining such amount.

Increases the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted each year without any deductions from benefits under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act. Revises the method for determining such amount, making it dependent upon the "applicable monthly earnings limitation" as specified in this Act.