Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -MoneySpot
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 03:03:19
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! (31661)
Related
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- One of the Country’s 10 Largest Coal Plants Just Got a Retirement Date. What About the Rest?
- Titanic Sub Catastrophe: Passenger’s Sister Says She Would Not Have Gone on Board
- David Malpass is stepping down as president of the World Bank
- Don't let hackers fool you with a 'scam
- Cheers Your Cosmos to the Most Fabulous Sex and the City Gift Guide
- Suspect charged in Gilgo Beach serial killings cold case that rocked Long Island
- The maker of Enfamil recalls 145,000 cans of infant formula over bacteria risks
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Trump asks 2 more courts to quash Georgia special grand jury report
Ranking
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Pennsylvania inmate captured over a week after making his escape
- Many U.K. grocers limit some fruit and veggie sales as extreme weather impacts supply
- Latto Shares Why She Hired a Trainer to Maintain Her BBL and Liposuction Surgeries
- Military service academies see drop in reported sexual assaults after alarming surge
- At least 3 dead in Pennsylvania flash flooding
- Florida ocean temperatures peak to almost 100 degrees amid heatwave: You really can't cool off
- Expansion of I-45 in Downtown Houston Is on Hold, for Now, in a Traffic-Choked, Divided Region
Recommendation
South Korean president's party divided over defiant martial law speech
Gabby Douglas, 3-time Olympic gold medalist, announces gymnastics comeback: Let's do this
Governor Roy Cooper Led North Carolina to Act on Climate Change. Will That Help Him Win a 2nd Term?
US Blocks Illegal Imports of Climate Damaging Refrigerants With New Rules
Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
One-third of Americans under heat alerts as extreme temperatures spread from Southwest to California
Inside Clean Energy: Illinois Faces (Another) Nuclear Power Standoff
How Much Did Ancient Land-Clearing Fires in New Zealand Affect the Climate?