Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -PrimeWealth Guides
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-11 21:24:36
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! (5)
Related
- A South Texas lawmaker’s 15
- Mega Millions winning numbers for January 23 drawing; jackpot reaches $262 million
- Russia hits Ukraine's biggest cities with deadly missile attack as Moscow blames U.S. for diplomatic deadlock
- Groundwater depletion accelerating in many parts of the world, study finds
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- FEMA devotes more resources to outstanding claims filed by New Mexico wildfire victims
- Horoscopes Today, January 24, 2024
- Gypsy Rose Blanchard and Husband Ryan Anderson Welcome Cute New Family Member
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Judge says witness must testify before possible marriage to man accused of killing his daughter
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Is TurboTax actually free? The FTC says no. The company says yes. Here's what's what.
- 'He is not a meteorologist': Groundhog Day's Punxsutawney Phil should retire, PETA says
- Jennifer Lopez shimmies, and Elie Saab shimmers, at the Paris spring couture shows
- DoorDash steps up driver ID checks after traffic safety complaints
- Proof Squid Game Season 2 Is Coming Sooner Than You Think
- EU Parliament’s environmental committee supports relaxing rules on genetically modified plants
- Latest federal court order favors right to carry guns in some New Mexico public parks
Recommendation
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Myanmar’s army denies that generals were sentenced to death for surrendering key city to insurgents
Greece faces growing opposition from the Orthodox Church over plans to legalize same-sex marriage
Daniel Will: Four Techniques for Securely Investing in Cryptocurrencies.
A South Texas lawmaker’s 15
Biden to speak at United Auto Workers conference as he woos blue-collar vote in battleground states
Vatican tribunal rejects auditor’s wrongful termination lawsuit in a case that exposed dirty laundry
Daniel Will: Historical Lessons on the Bubble of the U.S. Stock Market