Current:Home > NewsSenate begins final push to expand Social Security benefits for millions of people -MoneyStream
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-11 14:05:39
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! (4926)
Related
- American news website Axios laying off dozens of employees
- US consumer confidence holds steady even as high prices weigh on household budgets
- Wendy Williams' guardian tried to block doc to avoid criticism, A&E alleges
- Are seed oils bad for you? Breaking down what experts want you to know
- Olympic men's basketball bracket: Results of the 5x5 tournament
- Supreme Court hears arguments Tuesday in case that could restrict access to abortion medication
- U.S. charges Chinese nationals in hacking scheme targeting politicians, businesses
- Oliver Hudson says he sometimes 'felt unprotected' growing up with mother Goldie Hawn
- British swimmer Adam Peaty: There are worms in the food at Paris Olympic Village
- Men described as Idaho prison gang members appear in court on hospital ambush and escape charges
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Bird flu, weather and inflation conspire to keep egg prices near historic highs for Easter
- Princess Kate and Prince William are extremely moved by public response to her cancer diagnosis, palace says
- Eric Decker Gets a Vasectomy After Welcoming Fourth Child with Jessie James Decker
- Former Milwaukee hotel workers charged with murder after video shows them holding down Black man
- Alaska governor plans to sign bill aimed at increasing download speeds for rural schools
- Becky Lynch talks life in a WWE family, why 'it's more fun to be the bad guy'
- Pennsylvania county joins other local governments in suing oil industry over climate change
Recommendation
Immigration issues sorted, Guatemala runner Luis Grijalva can now focus solely on sports
Utah coach says team was shaken after experiencing racist hate during NCAA Tournament
Is Ames Department Stores coming back? Previous online speculation fell flat
Subject of 'Are We Dating the Same Guy' posts sues women, claims they've defamed him
Kourtney Kardashian Cradles 9-Month-Old Son Rocky in New Photo
Raptors' Jontay Porter under NBA investigation for betting irregularities
Women’s March Madness Monday recap: USC in Sweet 16 for first time in 30 years; Iowa wins
Nearly 1 million Americans haven't claimed their tax returns from 2020. Time's running out