Current:Home > ContactSenate begins final push to expand Social Security benefits for millions of people -Keystone Wealth Vision
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-26 14:59:12
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! (3)
Related
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- SCS Token Giving Wings to the CyberFusion Trading System
- How a perfect storm sent church insurance rates skyrocketing
- Mattel introduces its first blind Barbie, new Barbie with Down syndrome
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- New Zealand reports Canada after drone flown over Olympic soccer practice
- 2024 Paris Olympic village: Cardboard beds, free food and more as Olympians share videos
- Tarek El Moussa Slams Rumor He Shared a Message About Ex Christina Hall’s Divorce
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Abortion rights supporters report having enough signatures to qualify for Montana ballot
Ranking
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- New Michigan law makes it easier for prisons to release people in poor health
- 'DEI candidate.' What's behind the GOP attacks on Kamala Harris.
- The Daily Money: Kamala Harris and the economy
- Trump invites nearly all federal workers to quit now, get paid through September
- 2024 Paris Olympic village: Cardboard beds, free food and more as Olympians share videos
- Chris Brown sued for $50M after alleged backstage assault of concertgoers in Texas
- US banks to begin reporting Russian assets for eventual forfeiture under new law
Recommendation
A White House order claims to end 'censorship.' What does that mean?
Mattel introduces its first blind Barbie, new Barbie with Down syndrome
New York’s Marshes Plagued by Sewage Runoff and Lack of Sediment
The Daily Money: Kamala Harris and the economy
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
Psst! Madewell’s Sale Has Cute Summer Staples up to 70% Off, Plus an Extra 40% off With This Secret Code
A plane slips off the runway and crashes in Nepal, killing 18 passengers and injuring the pilot
Salt Lake City celebrates expected announcement that it will host the 2034 Winter Olympics