Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -VitalWealth Strategies
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-24 10:15:20
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! (61627)
Related
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- Behind your speedy Amazon delivery are serious hazards for workers, government finds
- In 2018, the California AG Created an Environmental Justice Bureau. It’s Become a Trendsetter
- Maryland, Virginia Lawmakers Spearhead Drive to Make the Chesapeake Bay a National Recreation Area
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Ice Dam Bursts Threaten to Increase Sunny Day Floods as Hotter Temperatures Melt Glaciers
- Please Stand Up and See Eminem's Complete Family Tree
- Kourtney Kardashian Is Pregnant, Expecting First Baby With Husband Travis Barker
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Rental application fees add up fast in a tight market. But limiting them is tough
Ranking
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Inflation is easing, even if it may not feel that way
- National Splurge Day: Shop 10 Ways To Treat Yourself on Any Budget
- 'It's like gold': Onions now cost more than meat in the Philippines
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Inside Clean Energy: General Motors Wants to Go Big on EVs
- 3D-printed homes level up with a 2-story house in Houston
- Please Stand Up and See Eminem's Complete Family Tree
Recommendation
The Best Stocking Stuffers Under $25
Ice Dam Bursts Threaten to Increase Sunny Day Floods as Hotter Temperatures Melt Glaciers
National Splurge Day: Shop 10 Ways To Treat Yourself on Any Budget
Deer spread COVID to humans multiple times, new research suggests
Current, future North Carolina governor’s challenge of power
See the Royal Family at King Charles III's Trooping the Colour Celebration
Q&A: A Republican Congressman Hopes to Spread a New GOP Engagement on Climate from Washington, D.C. to Glasgow
Ice Dam Bursts Threaten to Increase Sunny Day Floods as Hotter Temperatures Melt Glaciers