Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -NextGenWealth
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-15 13:19:19
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! (356)
Related
- The Best Stocking Stuffers Under $25
- Score 50% Off Le Creuset, 70% Off Madewell, $1 Tarte Concealer, 70% Off H&M, 65% Off Kate Spade, & More
- Walmart's Largest Deals Event of 2024 is Here: Save Up to 80% Off Apple, Shark, Keurig, LEGO & More
- Stephen Baldwin Supports Brother Alec Baldwin at Rust Shooting Trial
- Oklahoma parole board recommends governor spare the life of man on death row
- What cognitive tests can show — and what they can’t
- Gypsy Rose Blanchard announces she's pregnant: I want to be everything my mother wasn't
- What's the best temperature to set your AC on during a summer heat wave?
- 'Meet me at the gate': Watch as widow scatters husband's ashes, BASE jumps into canyon
- Trump-appointed judge in Alaska resigns over sexual misconduct, leaving only 1 judge in state
Ranking
- New Orleans mayor’s former bodyguard making first court appearance after July indictment
- Florence Pugh and Andrew Garfield Prepare to Break Hearts in Gut-Wrenching We Live in Time Trailer
- Sen. Britt of Alabama Confronted on Her Ties to ‘Big Oil’
- It is way too hot. 160 million under alert as heat breaks records and a bridge
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- NYPD nixing ‘Courtesy, Professionalism, Respect’ slogan on new patrol cars for crime-focused motto
- How the Kansas City Chiefs Are Honoring Cheerleader Krystal Anderson 4 Months After Her Death
- It is way too hot. 160 million under alert as heat breaks records and a bridge
Recommendation
Rylee Arnold Shares a Long
WNBA rookie power rankings: Caitlin Clark, Angel Reese top list after record performances
Gen Z is experiencing 'tattoo regret.' Social media may be to blame.
Dutch name convicted rapist to Olympic beach volleyball team; IOC says it had no role
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Rays' Wander Franco charged with sexual abuse, exploitation of minor: report
Sen. Bob Menendez's lawyer tells jury that prosecutors failed to prove a single charge in bribery trial
Spain's Lamine Yamal nets sizzling goal, becomes youngest goal scorer in UEFA Euro history