Most of social security bill approved by House panel

A key House panel skirted the touchy issues, but swiftly approved most of a $ 165 billion social security rescue bill. The House Social Security Subcommittee tentatively endorsed a package including speedier payroll-tax hikes, a benefits tax, a six-month pension freeze , and a requirement that new federal workers join the system. It made only two major changes, recommending a cost-of-living increase for 1983, whether or not inflation automatically triggers it, and proposing that self-employed workers get a $250 million one-time tax credit.

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