Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -InvestSmart Insights
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-13 19:29:50
WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefitsto millions of people, setting up potential passage in the final days of the lame-duck Congress.
Senate Majority Leader Chuck Schumer, D-N.Y., said Thursday he would begin the process for a final vote on the bill, known as the Social Security Fairness Act, which would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people.
Schumer said the bill would “ensure Americans are not erroneously denied their well-earned Social Security benefits simply because they chose at some point to work in their careers in public service.”
The legislation passed the House on a bipartisan vote, and a Senate version of the bill introduced last year gained 62 cosponsors. But the bill still needs support from at least 60 senators to pass Congress. It would then head to President Biden.
Decades in the making, the bill would repeal two federal policies — the Windfall Elimination Provision and the Government Pension Offset — that broadly reduce payments to two groups of Social Security recipients: people who also receive a pension from a job that is not covered by Social Security and surviving spouses of Social Security recipients who receive a government pension of their own.
The bill would add more strain on the Social Security Trust funds, which were already estimated to be unable to pay out full benefits beginning in 2035. It would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office.
Conservatives have opposed the bill, decrying its cost. But at the same time, some Republicans have pushed Schumer to bring it up for a vote.
Sen. Bill Cassidy, R-La., said last month that the current federal limitations “penalize families across the country who worked a public service job for part of their career with a separate pension. We’re talking about police officers, firefighters, teachers, and other public employees who are punished for serving their communities.”
He predicted the bill would pass.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (7626)
Related
- New data highlights 'achievement gap' for students in the US
- Why Jana Duggar Says It Was “Disheartening” Watching Her Siblings Getting Married First
- Nordstrom Rack's Back-to-School Sale: Score Up to 82% Off Free People, Marc Jacobs & More Before It Ends
- These tiny worms live in eyes, feed on tears and could transmit to humans
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Does Micellar Water Work As Dry Shampoo? I Tried the TikTok Hack and These Are My Results
- What is vitamin B6 good for? Health experts weigh in on whether you need a supplement.
- Fentanyl, meth trafficker gets 376-year prison sentence for Colorado drug crimes
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Saturday Night Live Alum Victoria Jackson Shares She Has Inoperable Tumor Amid Cancer Battle
Ranking
- Sam Taylor
- Jordan Chiles breaks silence on Olympic bronze medal controversy: 'Feels unjust'
- ESPN fires football analyst Robert Griffin III and host Samantha Ponder, per report
- Arizona, Nevada and Mexico will lose same amount of Colorado River water next year as in 2024
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Horoscopes Today, August 15, 2024
- Did Dakota Johnson and Chris Martin Break Up? Here’s the Truth About Their Engagement
- Texas couple charged with failing to seek medical care for injured 12-year-old who later died
Recommendation
Meta releases AI model to enhance Metaverse experience
Millennials, Gen Z are 'spiraling,' partying hard and blowing their savings. Why?
Saturday Night Live Alum Victoria Jackson Shares She Has Inoperable Tumor Amid Cancer Battle
Mark Meadows tries to move his charges in Arizona’s fake electors case to federal court
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Horoscopes Today, August 16, 2024
Could Alex Murdaugh get new trial for South Carolina murders of wife and son?
Fantasy football: 160 team names you can use from every NFL team in 2024