Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -NextWave Wealth Hub
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 13:04:07
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! (4226)
Related
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Sunday Morning 2023 Food Issue recipe index
- Chiefs vs. Eagles Monday Night Football live updates: Odds, predictions, how to watch
- Encroaching wildfires prompt North Carolina and Tennessee campgrounds to evacuate
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- 'Napoleon' movie review: Joaquin Phoenix leads the charge in Ridley Scott's erratic epic
- 100+ Kids Christmas movies to stream with the whole family this holiday season.
- The pre-workout supplement market is exploding. Are pre-workouts safe?
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Biden pardons turkeys Liberty and Bell in annual Thanksgiving ceremony
Ranking
- Tom Holland's New Venture Revealed
- Appeals court to consider Trump's bid to pause gag order in special counsel's election interference case
- Tom Schwartz's Winter House Romance With Katie Flood Takes a Hilariously Twisted Turn
- Naughty dog finds forever home after shelter's hilarious post: 'We want Eddie out of here'
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Shakira Reveals Why She Decided to Finally Resolve Tax Fraud Case for $7.6 Million
- Massachusetts forms new state police unit to help combat hate crimes
- 3 teen girls plead guilty, get 20 years in carjacking, dragging death of 73-year-old woman
Recommendation
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
No Alex Morgan? USWNT's future on display with December camp roster that let's go of past
Taylor Swift fan dies at Rio concert amid complaints about excessive heat
A Minnesota woman came home to 133 Target packages sent to her by mistake
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Chase Chrisley Debuts New Romance 4 Months After Emmy Medders Breakup
Why is Angel Reese benched? What we know about LSU star as she misses another game
Sunday Morning 2023 Food Issue recipe index