Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -FundTrack
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-15 09:12:48
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! (55661)
Related
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Economy grew solid 2.4% in second quarter amid easing recession fears
- Customers want instant gratification. Workers say it’s pushing them to the brink
- Buckle up: New laws from seat belts to library books take effect in North Dakota
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Chick-fil-A to build new restaurant concepts in Atlanta and New York City
- Stick to your back-to-school budget with $250 off the 2020 Apple MacBook Air at Amazon
- 'Where's the Barbie section?': New movie boosts interest in buying, selling vintage dolls
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- As these farmworkers' children seek a different future, who will pick the crops?
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- How Motherhood Taught Kylie Jenner to Rethink Plastic Surgery and Beauty Standards
- 'Love Island USA' week 2 heats up with a 'Vanderpump' cameo, feuds, so many love triangles
- What's a fair price for a prescription drug? Medicare's about to weigh in
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Taylor Swift fans can find their top 5 eras with new Spotify feature. Here's how it works.
- More than 80 private, parochial schools apply to participate in new voucher program
- Randy Meisner, founding member of the Eagles, dies at 77
Recommendation
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
What my $30 hamburger reveals about fees and how companies use them to jack up prices
National Chicken Wing Day 2023: Buffalo Wild Wings, Popeyes, Hooters, more have deals Saturday
Morocco’s Benzina is first woman to compete in hijab at World Cup since FIFA ban lifted
Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
'Sound of Freedom' misleads audiences about the horrible reality of human trafficking
Why Eva Mendes and Ryan Gosling Are So Protective of Their Private World
How does post-concert sadness impact people with depression differently?