Current:Home > FinanceSenate 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:2025-04-18 14:20:52
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! (6454)
Related
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Handwritten lyrics of Eagles' classic Hotel California the subject of a criminal trial that's about to start
- Taylor Swift is not a psyop, but a fifth of Americans think she is. We shouldn’t be surprised.
- Taylor Swift and Travis Kelce's Kiss At Her Eras Tour Show in Sydney Has Sparks Flying
- A South Texas lawmaker’s 15
- The Daily Money: In praise of landlines
- Homeland Security will investigate cause of AT&T outage White House says
- Private lunar lander is closing in on the first US touchdown on the moon in a half-century
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Two more candidates file papers to run for U.S. Senate in Pennsylvania
Ranking
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Seattle officer won't face felony charges for fatally hitting Jaahnavi Kandula in 2023
- Allow Angelina Jolie's Blonde Hair Transformation to Inspire Your Next Salon Visit
- Oklahoma man hacked government auction site to buy cars for a buck
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- 7 things you should never ask Siri, Google Assistant or Alexa
- Wendy Williams diagnosed with same form of dementia as Bruce Willis
- What to know about Wendy Williams' diagnosis of aphasia and frontotemporal dementia
Recommendation
The Daily Money: Spending more on holiday travel?
Who has the power to sue Brett Favre over welfare money? 1 Mississippi Republican sues another
Divers retrieve 80-pound brass bell from first U.S. Navy destroyer ever sunk by enemy fire
S🍩S doughnuts: Free Krispy Kreme sweetens day after nationwide cellphone outage
A White House order claims to end 'censorship.' What does that mean?
Cybersecurity breach at UnitedHealth subsidiary causes Rx delays for some pharmacies
Students demand universities kick Starbucks off campus
Hilary Swank recalls the real-life 'Ordinary Angels' that helped her to Hollywood stardom