Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Bright Future Finance
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 12:07:50
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! (2514)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Cleats left behind after Jackie Robinson statue was stolen to be donated to Negro League Museum
- National Rifle Association and Wayne LaPierre found liable in lawsuit over lavish spending
- Professional bowler arrested during tournament, facing child pornography charges
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- 1 dead, 3 injured following a fire at a Massachusetts house
- Death of beloved New York City owl, Flaco, in apparent building collision devastates legions of fans
- Trump says his criminal indictments boosted his appeal to Black voters
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Watch this missing cat come wandering home
Ranking
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Biden administration restores Trump-rescinded policy on illegitimacy of Israeli settlements
- Vanessa Hudgens, Cole Tucker & More Couples Who Proved Love Is the Real Prize at the SAG Awards
- Single-engine plane crash in southern Ohio kill 3, sheriff’s office says; FAA, NTSB investigating
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- At 99, this amazing Holocaust survivor and musician is still beating the drum for peace
- Trump says he strongly supports availability of IVF after Alabama Supreme Court ruling
- Body of nursing student found on a University of Georgia campus; police questioning person of interest
Recommendation
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
Biden administration restores Trump-rescinded policy on illegitimacy of Israeli settlements
Chicago Bears great Steve McMichael returns home after more than a week in hospital
University of Wyoming identifies 3 swim team members who died in car crash
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
RHOA's Porsha Williams and Simon Guobadia Break Up After 15 Months of Marriage
Coyotes look to terminate Adam Ruzicka's contract after problematic social media video
Shop Madewell's Best-Sellers For Less With Up To 70% Off Fan-Favorite Finds