Current:Home > ScamsSenate begins final push to expand Social Security benefits for millions of people -MoneyStream
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-13 16:07:01
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! (89)
Related
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- We Ranked All of Mary-Kate and Ashley Olsen's Movies. You're Welcome!
- Dozens hurt in Manhattan collision involving double-decker tour bus
- From the Heart of Coal Country, Competing Visions for the Future of Energy
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Teen arrested in connection with Baltimore shooting that killed 2, injured 28
- Some of America's biggest vegetable growers fought for water. Then the water ran out
- Nick Jonas and Baby Girl Malti Are Lovebugs in New Father-Daughter Portrait
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Teen arrested in connection with Baltimore shooting that killed 2, injured 28
Ranking
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Your Multivitamin Won't Save You
- Warmer Temperatures May Offer California Farmers a Rare Silver Lining: Fewer Frosts
- Fortnite maker Epic Games will pay $520 million to settle privacy and deception cases
- 'We're reborn!' Gazans express joy at returning home to north
- Twitter suspends several journalists who shared information about Musk's jet
- In a year marked by inflation, 'buy now, pay later' is the hottest holiday trend
- These Father's Day Subscription Boxes From Omaha Steaks, Amazon & More Are the Perfect Gift Ideas for Dad
Recommendation
Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
India Is Now Investing More in Solar than Coal, but Will Its Energy Shift Continue?
Deep Decarbonization Plans for Michigan’s Utilities, but Different Paths
Why the government fails to limit many dangerous chemicals in the workplace
Bodycam footage shows high
These could be some of the reasons DeSantis hasn't announced a presidential run (yet)
Massachusetts lawmakers target affirmative action for the wealthy
Warming Trends: A Facebook Plan to Debunk Climate Myths, ‘Meltdown’ and a Sad Yeti