Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Global Finance Compass
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 22:29:21
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! (9)
Related
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- 11 AAPI-Owned Brands To Support Throughout May & Year-Round, Too
- The Best Dressed Stars at the 2023 Met Gala Will Make Your Jaw Drop
- Shop the Best Silicone-Free Conditioners for All Hair Types & Budgets
- What do we know about the mysterious drones reported flying over New Jersey?
- Harry Potter's Bonnie Wright Is Pregnant, Expecting First Baby With Husband Andrew Lococo
- Keep Up With Kim Kardashian's Most Challenging Met Gala Looks
- Olivia Wilde's Revenge Dress Steals the Show at 2023 Met Gala
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Why Isla Fisher and Sacha Baron Cohen Keep Their 3 Kids Out of the Spotlight
Ranking
- The Super Bowl could end in a 'three
- Lily Collins Delivers the Chicest Homage to Karl Lagerfeld at Met Gala 2023
- Keep Up With the Kardashian-Jenner Family's Met Gala Appearances Over the Years
- 34 Mother's Day Gifts for the Athletic Mom: Beats, Lululemon, Adidas, Bala, and More
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- All the Details on Chad Michael Murray and Scott Patterson’s Gilmore Girls Reunion
- Michelle Yeoh’s Crazy Rich 2023 Met Gala Look Will Take Your Breath Away
- Ariana Madix Makes Glam Red Carpet Return at White House Correspondents' Dinner After Tom Sandoval Split
Recommendation
The Best Stocking Stuffers Under $25
Andrew Callegari
11 AAPI-Owned Brands To Support Throughout May & Year-Round, Too
Priyanka Chopra Shares What Nick Jonas Told Her the Day Daughter Malti Was Born
Taylor Swift makes surprise visit to Kansas City children’s hospital
Tampa Bay Buccaneers Linebacker Shaquil Barrett's 2-Year-Old Daughter Dies in Drowning Accident
Fire Up Your Fashion Memories With the Most Unforgettable Met Gala Moments of All Time
Why Karl Lagerfeld's Cat Choupette Is Not Attending Met Gala 2023