Current:Home > MarketsSenate 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:2025-04-14 04:06:50
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! (5258)
Related
- Grammy nominee Teddy Swims on love, growth and embracing change
- Shohei Ohtani is the AP Male Athlete of the Year for the 2nd time in 3 years
- Taliban official says Afghan girls of all ages permitted to study in religious schools
- Kamala Harris to embark on reproductive freedoms tour as Biden campaign makes abortion a central issue
- Trump issues order to ban transgender troops from serving openly in the military
- Turkish central bank raises interest rate 42.5% to combat high inflation
- The 'Yellowstone' effect on Montana
- Lawsuit challenges Alabama's plan to execute a death row inmate with nitrogen gas
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Serbia opposition urges EU to help open international probe into disputed vote after fraud claims
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- Is a Schitt's Creek Reunion in the Works? Dan Levy Says...
- Wells Fargo workers at New Mexico branch vote to unionize, a first in modern era for a major bank
- Top US military officer speaks with Chinese counterpart as US aims to warm relations with Beijing
- The Best Stocking Stuffers Under $25
- Mississippi’s State Board of Education names new superintendent
- She was the face of grief after 4 family members slain. Now she's charged with murder.
- After 58 deaths on infamous Pacific Coast Highway, changes are coming. Will they help?
Recommendation
Stamford Road collision sends motorcyclist flying; driver arrested
Rachel McAdams explains why she didn't join the 'Mean Girls' reunion ad
Cuisinart Flash Deal, Save $100 on a Pizza Oven That’s Compact and Easy To Use
10 NFL records that could be broken in 2023 season
The company planning a successor to Concorde makes its first supersonic test
Top COVID FAQs of 2023: Staying safe at home, flying tips, shot combos, new variant
Top US officials to visit Mexico for border talks as immigration negotiations with Congress continue
Could Colorado lose commitment from top offensive lineman? The latest on Jordan Seaton