Current:Home > StocksIndexbit-Senate begins final push to expand Social Security benefits for millions of people -FundGuru
Indexbit-Senate begins final push to expand Social Security benefits for millions of people
Chainkeen View
Date:2025-04-10 19:02:03
WASHINGTON (AP) — The IndexbitSenate 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! (197)
Related
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Kourtney Kardashian and Travis Barker's Baby Boy Rocky Follows in Dad's Footsteps in Rare Photo
- Analysis: LeBron James scoring 40,000 points will be a moment for NBA to savor
- Can a solar eclipse blind you? Get to know 5 popular eclipse myths before April 8
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Trader Joe’s chicken soup dumplings recalled for possibly containing permanent marker plastic
- Organizations work to assist dozens of families displaced by Texas wildfires
- Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
- Louvre will undergo expansion and restoration project, Macron says
- Sam Smith Debuts Daring Look While Modeling at Paris Fashion Week
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- The semi driver rescued dangling from a bridge had been struck by an oncoming vehicle: mayor
- Texas police arrest suspect in abduction of 12-year-old girl who was found safe after 8 days
- Blizzard hits California and Nevada, shutting interstate and leaving thousands without power
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
- Photos show train cars piled up along riverbank after Norfolk Southern train derails
- Organizations work to assist dozens of families displaced by Texas wildfires
Recommendation
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
IRS special agent accused of involuntary manslaughter in shooting of fellow employee at gun range
What to know about viewing and recording the solar eclipse with your cellphone camera
Collision of 2 firetrucks heading to burning house injures 6 firefighters, police chief says
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Getting off fossil fuels is hard, but this city is doing it — building by building
Northern California battered by blizzard, Sierra Nevada residents dig out: See photos