Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -FundGuru
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-19 04:03:33
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! (66648)
Related
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- More stunning NFL coach firings to come? Keep an eye on high-pressure wild-card games
- Volcano erupts in southwestern Iceland, send lava flowing toward nearby settlement
- The Latest Cafecore Trend Brings Major Coffeeshop Vibes Into Your Home
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Get ready for transparent TV: Tech giants show off 'glass-like' television screens at CES
- Kalen DeBoer is a consummate ball coach. But biggest unknown for Alabama: Can he recruit?
- ‘Mean Girls’ takes 1st place at the box office. So fetch.
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Taylor Swift Tackles the Cold During Travis Kelce's AFC Wild Card Game
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- 4th person dies following Kodak Center crash on New Year's Day in Rochester, New York
- Caitlin Clark points tracker: When will Iowa basketball star break NCAA scoring record?
- Death toll rises to 13 in a coal mine accident in central China
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Palestinian soccer team set for its first test at Asian Cup against three-time champion Iran
- Patrick Mahomes leads Chiefs to 26-7 playoff win over Miami in near-record low temps
- As legal challenges mount, some companies retool diversity and inclusion programs
Recommendation
Nevada attorney general revives 2020 fake electors case
DEI opponents are using a 1866 Civil Rights law to challenge equity policies in the workplace
Horoscopes Today, January 12, 2024
'Berlin' star Pedro Alonso describes 'Money Heist' spinoff as a 'romantic comedy'
B.A. Parker is learning the banjo
Thousands at Saturday 'March for Gaza' in Washington DC call for Israel-Hamas cease-fire
Elementary school teacher fired over side gig as online sex coach in Austria
Wildfire prevention and helping Maui recover from flames top the agenda for Hawaii lawmakers