Many seniors find that their Social Security checks aren't enough to cover the rising costs of housing and healthcare, but the current 'earnings test' makes working a job less profitable because their benefits get cut. If this bill becomes law, seniors could work as much as they need to without doing the math on when their benefits will be slashed.

From a national perspective, this could help fill labor shortages by keeping experienced people in the workforce. However, it also means the Social Security Trust Fund would pay out more money sooner, which is a significant concern for those worried about the long-term stability of the Social Security program.