Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -MoneyTrend
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-11 22:32:15
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! (865)
Related
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- If Mornings Make You Miserable, These Problem-Solving Finds Will Help You Get It Together
- 8 killed in California head-on crash include 7 farmers in van, 1 driver in pick-up: Police
- The next sports power couple? Livvy Dunne's boyfriend Paul Skenes is top MLB prospect
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Josh Hartnett Makes Rare Appearance at 2024 SAG Awards After Stepping Away From Hollywood
- Atlanta Hawks All-STar Trae Young to have finger surgery, out at least four weeks
- Air Force member in critical condition after setting himself on fire outside Israeli embassy in DC
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- South Carolina primary exit polls for the 2024 GOP election: What voters said as they cast their ballots
Ranking
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Alabama’s IVF ruling is spotlighting the anti-abortion movement’s long game
- In light of the Alabama court ruling, a look at the science of IVF
- Shane Gillis struggles in a 'Saturday Night Live' monologue which avoids the obvious
- Former Syrian official arrested in California who oversaw prison charged with torture
- MLB free agent rumors drag into spring but no need to panic | Nightengale's Notebook
- Who can vote in the South Carolina Republican primary election for 2024?
- Sarah Michelle Gellar Supports Shannen Doherty Amid Charmed Drama
Recommendation
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Powerball winning numbers for Feb. 24 drawing: Jackpot rises to over $370 million
These Candid 2024 SAG Awards Moments Will Make You Feel Like You Were There
These Candid 2024 SAG Awards Moments Will Make You Feel Like You Were There
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Iowa vs. Illinois highlights: Caitlin Clark notches triple-double, draws closer to scoring record
Richard Sherman arrested in Seattle on suspicion of driving under the influence
When does 'The Voice' Season 25 start? 2024 premiere date, time, coaches, where to watch