Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Mastery Money Tools
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-16 10:35:53
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! (2834)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- SpongeBob SquarePants Is Autistic, Actor Tom Kenny Reveals
- Terrell Davis' lawyer releases video of United plane handcuffing incident, announces plans to sue airline
- Keanu Reeves Shares Why He Thinks About Death All the Time
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- How the WNBA Olympic break may help rookies Caitlin Clark and Angel Reese
- Illinois woman sentenced to 2 years in prison for sending military equipment to Russia
- Russia and China push back against U.S. warnings over military and economic forays in the melting Arctic
- Senate begins final push to expand Social Security benefits for millions of people
- SpongeBob SquarePants Is Autistic, Actor Tom Kenny Reveals
Ranking
- Meet first time Grammy nominee Charley Crockett
- Heather Rae and Tarek El Moussa Speak Out on Christina Hall's Divorce From Josh Hall
- Find Out Which America's Sweethearts: Dallas Cowboys Cheerleaders Stars Made the 2024 Squad
- New Zealand reports Canada after drone flown over Olympic soccer practice
- Federal hiring is about to get the Trump treatment
- Famed guitarist Slash announces death of stepdaughter in heartfelt post: 'Sweet soul'
- Joe Burrow haircut at Bengals training camp prompts hilarious social media reaction
- Bachelor Nation's Ashley Iaconetti Gives Birth, Welcomes Baby No. 2 With Jared Haibon
Recommendation
B.A. Parker is learning the banjo
Brandon Aiyuk reports to 49ers training camp despite contract extension impasse
Is it common to get a job promotion without a raise? Ask HR
2024 Paris Olympics: Surfers Skip Cardboard Beds for Floating Village in Tahiti
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
What is the first step after a data breach? How to protect your accounts
Multimillion-dollar crystal meth lab found hidden in remote South Africa farm; Mexican suspects arrested
Darren Walker’s Ford Foundation legacy reached far beyond its walls