Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Bright Future Finance
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 02:23:14
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! (2471)
Related
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Uvalde mom pushes through 'nightmare' so others won't know loss of a child in 'Print It Black'
- Johnson & Johnson sued by cancer victims alleging 'fraudulent' transfers, bankruptcies
- 20 Singapore Airlines passengers injured by turbulence still in intensive care, many needing spinal surgery
- Kansas City Chiefs CEO's Daughter Ava Hunt Hospitalized After Falling Down a Mountain
- Louisville police officer reprimanded for not activating body cam in Scottie Scheffler incident
- Defense secretary tells US Naval Academy graduates they will lead ‘through tension and uncertainty’
- Caitlin Clark makes LA debut: How to watch Indiana Fever vs. Los Angeles Sparks on Friday
- Blake Lively’s Inner Circle Shares Rare Insight on Her Life as a Mom to 4 Kids
- Vigil, butterfly release among events to mark the 2nd anniversary of the Uvalde school shooting
Ranking
- What do we know about the mysterious drones reported flying over New Jersey?
- The 77 Best Memorial Day 2024 Fashion Deals: J.Crew, Banana Republic, Old Navy, Michael Kors, Gap & More
- A woman took her dog to a shelter to be euthanized. A year later, the dog is up for adoption again.
- Oreo maker Mondelez hit with $366 million antitrust fine by EU
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Manatee County sheriff’s deputy injured in shooting
- Workers at Georgia school bus maker Blue Bird approve their first union contract
- The 180 Best Memorial Day 2024 Deals: Old Navy, Anthropologie, J.Crew, Kate Spade, Wayfair, Coach & More
Recommendation
Everything Simone Biles did at the Paris Olympics was amplified. She thrived in the spotlight
Louisville police officer reprimanded for not activating body cam in Scottie Scheffler incident
The Shiba Inu that became meme famous as the face of dogecoin has died. Kabosu was 18
Immigration officer convicted of shooting photos and video up a flight attendant’s skirt
Beware of giant spiders: Thousands of tarantulas to emerge in 3 states for mating season
Krispy Kreme offers discounted doughnuts in honor of Memorial Day: How to get the deal
Louisville police officer reprimanded for not activating body cam in Scottie Scheffler incident
6 killed in Idaho crash were agricultural workers from Mexico, officials say