Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -WealthFocus Academy
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-16 06:25:31
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! (128)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- 'I wish we could play one more time': Michigan camp for grieving kids brings sobs, healing
- Iowa State’s Isaiah Lee, who is accused of betting against Cyclones in a 2021 game, leaves program
- Los Angeles Angels two-way star Shohei Ohtani to miss next pitching start over arm fatigue
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- North Carolina budget delays are worsening teacher hiring crisis, education leaders warn
- Publisher of small Kansas newspaper calls police raid Gestapo tactic but police insist it was justified
- Police apologize after Black teen handcuffed in an unfortunate case of 'wrong place, wrong time'
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Where does salt come from? Digging into the process of salt making.
Ranking
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- The No-Brainer Retirement Account I'd Choose Way Before a 401(k)
- Longtime Louisville public radio host Rick Howlett has died at 62
- Lucas Glover tops Patrick Cantlay to win FedEx St. Jude Championship on first playoff hole
- Former longtime South Carolina congressman John Spratt dies at 82
- Boston doctor arrested for allegedly masturbating, exposing himself on aircraft while teen sat next to him
- Plastic weighing as much as the Eiffel Tower pollutes Great Lakes yearly. High-tech helps.
- Highest-paid QBs in the NFL: The salaries for the 42 highest paid NFL quarterbacks
Recommendation
See you latte: Starbucks plans to cut 30% of its menu
5 people, including a child, are dead after an explosion destroys 3 homes and damages 12 others
Jimmy Fallon Is the Ultimate Rockstar During Surprise Performance at Jonas Brothers Concert
Judge in Donald Trump’s hush-money case denies bias claim, won’t step aside
Biden administration makes final diplomatic push for stability across a turbulent Mideast
A woman says she fractured her ankle when she slipped on a piece of prosciutto; now she’s suing
Police chase in Milwaukee leaves 1 dead, 9 hurt
16 people injured after boat explodes at Lake of the Ozarks in Missouri