Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -WealthSpot
Senate begins final push to expand Social Security benefits for millions of people
TradeEdge Exchange View
Date:2025-04-08 12:10:47
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! (48238)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Alec Baldwin movie 'Rust' set to premiere 3 years after on-set shooting
- Jax Taylor Gives Brittany Cartwright Full Custody of Son Cruz in New Divorce Filing
- Lawsuit filed over road rage shooting by off-duty NYPD officer that left victim a quadriplegic
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- NHL point projections, standings predictions: How we see 2024-25 season unfolding
- Influential prophesizing pastors believe reelecting Trump is a win in the war of angels and demons
- 2025 NFL mock draft: Travis Hunter rises all the way to top of first round
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Ron Hale, General Hospital Star, Dead at 78
Ranking
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Jax Taylor Shares Conflicting Response on If He and Brittany Cartwright Were Ever Legally Married
- Opinion: College Football Playoff will be glorious – so long as Big Ten, SEC don't rig it
- ACLU lawsuit details DWI scheme rocking Albuquerque police
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Man pleads guilty in betting scheme that ensnared ex-NBA player Jontay Porter
- Ryan Murphy Says Lyle and Erik Menendez Should Be Sending Me Flowers Amid Series Backlash
- Mormon faith pushes ahead with global temple building boom despite cool reception in Las Vegas
Recommendation
All That You Wanted to Know About She’s All That
Love Is Blind's Hannah Reveals Her True Thoughts on Leo's Shouting Match
Elections have less impact on your 401(k) than you might think
Pete Rose's longtime teammate Tony Perez opens up about last visit with baseball icon
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
Helene death toll hits 200 one week after landfall; 1M without power: Live updates
Comedian Jeff Wittek Says He Saw Live Sex at Sean Diddy Combs' Freak-Off Party
Our Favorite Everyday Rings Under $50