Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Mastery Money Tools
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 01:08:07
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! (5513)
Related
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- The next 'Bachelor' is 71. Here's what dating after 50 really looks like
- 12 juveniles charged in beating, firing guns at gas station: Officials
- North Korean leader Kim Jong Un meets with Russian defense minister on military cooperation
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- NYC crane collapse: 6 people injured after structure catches fire in Manhattan, officials say
- Mississippi can’t restrict absentee voting assistance this year, US judge says as he blocks law
- Mega Millions jackpot soars to over $1 billion after no winner declared in draw
- Sonya Massey's father decries possible release of former deputy charged with her death
- Filmmaker chronicles Lakota fight to regain Black Hills
Ranking
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- MBA 3: Accounting and the Last Supper
- When is Mega Millions' next drawing? Lottery jackpot approaching $1 billion
- Explaining the latest heat-associated deaths confirmed amid record highs in Arizona’s largest county
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Mangrove forest thrives around what was once Latin America’s largest landfill
- Search ends for body of infant swept away by flood that killed sister, mother, 4 others
- Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
SpaceX Falcon Heavy rocket launches massive EchoStar internet satellite
Dwayne Johnson makes 'historic' 7-figure donation to SAG-AFTRA amid actors strike
'It can't be': 3 Marines found in car near Camp Lejeune died of carbon monoxide poisoning
Global Warming Set the Stage for Los Angeles Fires
Alpha Phi Alpha, oldest Black fraternity, moves convention from Florida due to 'hostile' policies
Body found on grounds of Arizona State Capitol
Kevin Spacey Found Not Guilty on 9 Sexual Misconduct Charges