Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Elevate Capital Network
Senate begins final push to expand Social Security benefits for millions of people
PredictIQ View
Date:2025-04-09 13:16:03
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! (18)
Related
- Chief beer officer for Yard House: A side gig that comes with a daily swig.
- Vermont to grant professional licenses, regardless of immigration status, to ease labor shortage
- Texas judge orders new election after GOP lawsuit challenged 2022 election result in Houston area
- Who plays Colin, Eloise and Penelope in 'Bridgerton'? See the full Season 3 cast
- IOC's decision to separate speed climbing from other disciplines paying off
- Kevin Spacey says he's 'enormously pleased' amid support from Sharon Stone, Liam Neeson
- New York at Indiana highlights: Caitlin Clark, Fever handed big loss in first home game
- Shop These Rare Deals on Shay Mitchell's BÉIS Before They Sell Out
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- The Dow just crossed 40,000 for the first time. The number is big but means little for your 401(k)
Ranking
- 'Most Whopper
- National BBQ Day: See if your favorite barbecue spot made it on Yelp's top 100 list
- 2024 NFL schedule release winners, losers: Who got help, and who didn't?
- Lionel Messi's salary is more than 25 of 29 MLS teams. Here's what he's making in 2024.
- Connie Chiume, Black Panther Actress, Dead at 72: Lupita Nyong'o and More Pay Tribute
- 2024 PGA Championship highlights: Xander Schauffele leads with 62
- Biden marks Brown v. Board of Education anniversary amid signs of erosion in Black voter support
- Chasing Amy: How Marisa Abela became Amy Winehouse for ‘Back to Black’
Recommendation
Pressure on a veteran and senator shows what’s next for those who oppose Trump
Driver killed after tank depressurizes at Phoenix semiconductor facility that’s under construction
Blue Ivy Carter nominated for YoungStars Award at 2024 BET Awards
Lens to Impress: We Found All The Viral Digital Cameras That It-Girls Can't Get Enough Of Right Now
Trump wants to turn the clock on daylight saving time
Tom McMillen, head of the FBS athletic directors’ organization LEAD1, announces he’s stepping down
GOP tries to ‘correct the narrative’ on use of mailed ballots after years of conflicting messages
Filipino activists decide not to sail closer to disputed shoal, avoiding clash with Chinese ships