A bill to amend title II of the Social Security Act to liberalize the earnings test, to provide that cost-of-living increases shall be made semiannually (and on the basis of a separate senior citizen price index), and to provide that the remarriage of a beneficiary shall not terminate or reduce his or her benefits.

Provides, under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act, that individuals receiving benefits thereunder may earn up to $7,500 per year without a reduction in the amount of benefits received. Removes the limitation on the amount of outside income allowed for individuals who have reached the age of 70.

Directs the Secretary of Labor to prepare a Senior Citizens Price Index to be used in computing cost-of-living increases in benefits. Eliminates marital status as a factor in determining whether a recipient of Social Security benefits should have his or her entitlement reduced or terminated.