H.R. 8344: Senior Citizens’ Freedom to Work Act of 2026
The Senior Citizens’ Freedom to Work Act of 2026 proposes changes to the Social Security Act, specifically focusing on the retirement earnings test. Here’s a breakdown of what the bill entails:
Repeal of the Retirement Earnings Test
The bill aims to repeal certain sections of the Social Security Act that impose a retirement earnings test. This test currently reduces Social Security benefits for individuals aged 62 and older who earn income above a specified threshold while receiving benefits. By repealing this test, seniors will be allowed to work and earn any amount without facing a reduction in their Social Security benefits.
Conforming Amendments
To implement the repeal, the bill includes various amendments to the Social Security Act. These changes will update references and structure within the text of the law, such as:
- Redesignating subsections of the law to reflect the repeal.
- Removing obsolete provisions related to noncovered work outside the United States.
Adjustments in Related Provisions
The bill also adjusts related Social Security provisions that reference the earnings test. Some relevant updates include:
- Modifications to benefits that may be terminated upon deportation.
- Changes to how benefits are calculated based on early retirement deductions.
- Clarifications regarding income definitions for Supplemental Security Income (SSI) benefits.
Railroad Retirement Program
In addition to changes to the Social Security Act, the bill also eliminates similar deductions related to work for individuals covered by the Railroad Retirement Act. This means that railroad retirees would also be able to work without having their retirement benefits reduced based on their earnings.
Effective Date
The amendments proposed in this bill are intended to take effect for taxable years that end after December 31, 2026, meaning the changes would begin to apply in the year 2027.
Potential Impact on Seniors
The primary intent of this legislation is to provide greater flexibility for senior citizens who wish to continue working without facing penalties in their Social Security benefits due to their earnings. This could enable an increase in workforce participation among older adults, potentially allowing them to contribute economically while receiving retirement benefits.
Relevant Companies
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This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
5 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Apr. 16, 2026 | Introduced in House |
| Apr. 16, 2026 | Referred to the House Committee on Ways and Means. |
Corporate Lobbying
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Potentially Relevant Congressional Stock Trades
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