The social security-medicare bill came to the Senate for a vote. The measure calls for a $3.6 billion increase in social security cash payments, $700 million more than the House provided. The social security taxable wage base would jump to $8,000 starting next January, compared with the present $6,600 and the House figure of $7,600. A salaried person would pay $352 in social security levies next year, $61.60 more than currently scheduled.
The tax would produce $2.2 billion more revenues for the trust fund than would be paid out, the provision which prompted Republicans to contend the measure was an anti-inflation substitute for the Administration's proposed 10% income tax hike.
The Finance Committee shelved the Administration's most important recommendation for expanding medicare—adding the nation's 1.5 million disabled beneficiaries to the program.
Many changes were made in the version of the bill approved by the House, making a House-Senate conference necessary