Two Republicans in the Florida delegation are once again teaming up to lower taxes for seniors who choose to stay in the workforce.
On Tuesday, U.S. Rep. Ron DeSantis, R-Fla., reintroduced the Let Seniors Work Act in the House, a bill he championed back in July. The bill, first proposed by U.S. Sen. Marco Rubio, R-Fla., will repeal the Retirement Earnings Test and will stop the 12.4 percent payroll tax for working seniors.
Why punish seniors who chose to continue to contribute to our economy past the retirement age? DeSantis said on Tuesday. The 12.4 percent tax places an unnecessary burden on seniors and discourages participation in the workforce. By providing seniors with greater freedom in the workforce, Sen Rubio and I believe this will help strengthen the economy.
Rubio is also still on board with the legislation, bringing it out again in the Senate.
Older Americans who have spent their whole lives paying into Social Security should have the choice of leaving the workforce when they reach the retirement age, or continuing to work well into their golden years without having to pay Social Security payroll taxes or get hit by the Retirement Earnings Test, said Rubio, who is considering running for the Republican presidential nomination in 2016. Eliminating these two anti-senior and anti-growth measures makes a lot of sense in the 21st century when people are living longer and more productive lives than ever before.
The bill saw little progress last year. DeSantis introduced his bill in July and it was sent to the House Ways and Means Committee where it withered. Only two congressmen -- U.S. Rep. Ander Crenshaw, R-Fla., and U.S. Rep. Trent Franks, R-Ariz.-- co-sponsored the proposal.
Rubio also had little luck in the Senate. He introduced the bill in May and it was sent to the Finance Committee. Only U.S. Sen. Mike Lee, R-Utah, a frequent legislative ally of Rubio, co-sponsored the bill.
Reach Kevin Derby at kderby@sunshinestatenews.com or follow him on Twitter: @KevinDerbySSN
