Current:Home > StocksSenate 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:2025-04-14 10:57:56
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! (729)
Related
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- College football Week 5 overreactions: Georgia is playoff trouble? Jalen Milroe won Heisman?
- John Deere recalls compact utility tractors, advises owners to stop use immediately
- USOPC leader Sarah Hirshland on Jordan Chiles appeal: 'She earned that medal'
- A White House order claims to end 'censorship.' What does that mean?
- Man sentenced to nearly 200 years after Indiana triple homicide led to serial killer rumors
- 32 things we learned in NFL Week 4: One NFC team separating from the pack?
- King Charles III Shares Insight Into Queen Elizabeth’s Final Days 2 Years After Her Death
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Accused Los Angeles bus hijacker charged with murder, kidnapping
Ranking
- North Carolina justices rule for restaurants in COVID
- Biden administration doubles down on tough asylum restrictions at border
- Is 'The Simpsons' ending? Why the show aired its 'series finale' Sunday
- Man accused of killing his grandmother with hammer in New Hampshire
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Everything We Loved in September: Shop the Checkout Staff’s Favorite Products
- MLB power rankings: Los Angeles Dodgers take scenic route to No. 1 spot before playoffs
- Colton Underwood and Husband Jordan C. Brown Welcome First Baby
Recommendation
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
Best Early Prime Day Home Deals: Prices as Low as $5.98 on Milk Frothers, Meat Thermometers & More
Texas can no longer investigate alleged cases of vote harvesting, federal judge says
When is 'Love is Blind' Season 7? Premiere date, time, cast, full episode schedule, how to watch
Most popular books of the week: See what topped USA TODAY's bestselling books list
See Dancing with the Stars' Brooks Nader and Gleb Savchenko Confirm Romance With a Kiss
NBA players, coaches, GMs react to Dikembe Mutombo's death: 'He made us who we are.'
Maritime historians discover steam tug hidden in Lake Michigan since 1895