Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -MoneyMentor
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 21:26:38
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! (5698)
Related
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Rooftop Solar Keeps Getting More Accessible Across Incomes. Here’s Why
- Philippines' VP Sara Duterte a no
- Donald Trump is returning to the world stage. So is his trolling
- The company planning a successor to Concorde makes its first supersonic test
- Is that Cillian Murphy as a zombie in the '28 Years Later' trailer?
- Philippines' VP Sara Duterte a no
- 'Squirrel stuck in a tree' tops funniest wildlife photos of the year: See the pictures
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Chiquis comes from Latin pop royalty. How the regional Mexican star found her own crown
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Social media platform Bluesky nearing 25 million users in continued post
- Here's how to make the perfect oven
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Krispy Kreme's 'Day of the Dozens' offers 12 free doughnuts with purchase: When to get the deal
- Apple, Android users on notice from FBI, CISA about texts amid 'massive espionage campaign'
- New York Climate Activists Urge Gov. Hochul to Sign ‘Superfund’ Bill
Recommendation
The Grammy nominee you need to hear: Esperanza Spalding
'Wicked' sing
Gas prices set to hit the lowest they've been since 2021, AAA says
When fire threatened a California university, the school says it knew what to do
Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
Here's how to make the perfect oven
Analysis: After Juan Soto’s megadeal, could MLB see a $1 billion contract? Probably not soon
Krispy Kreme's 'Day of the Dozens' offers 12 free doughnuts with purchase: When to get the deal