Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -FinanceMind
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 16:21:39
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! (7)
Related
- New data highlights 'achievement gap' for students in the US
- Texas wildfires: Map shows scope of devastation, learn how you can help those impacted
- Regulator partially reverses ruling that banned FKA twigs Calvin Klein ad in UK
- United flight forced to return to Houston airport after engine catches fire shortly after takeoff
- Trump wants to turn the clock on daylight saving time
- Garrison Brown's Final Texts That Concerned Mom Janelle Brown Before His Death Revealed by Police
- TJ Maxx's Designer Bag Deals Are Fashion's Best-Kept Secret For Scoring Luxury Bags for Less
- New York City FC announces 'The Cube:' a massive, seven-story main entryway to new stadium
- Louvre will undergo expansion and restoration project, Macron says
- Wayward 450-pound pig named Kevin Bacon hams it up for home security camera
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- NHL trade deadline: Key players still available after Wednesday's trading frenzy
- 'Hotel California' trial abruptly ends after prosecutors drop case over handwritten Eagles lyrics
- Social media outages hurt small businesses -- so it’s important to have a backup plan
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Medical examiner says two Wisconsin inmates died of fentanyl overdose, stroke
- TikToker Remi Bader Just Perfectly Captured the Pain of Heartbreak
- What is the State of the Union? A look at some of the history surrounding the annual event
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Gisele Bündchen Breaks Down in Tears Over Tom Brady Split
European regulators want to question Apple after it blocks Epic Games app store
Oklahoma panel denies clemency for death row inmate, paves way for lethal injection
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Colorado River States Have Two Different Plans for Managing Water. Here’s Why They Disagree
Show stopper: Rare bird sighting prompts Fountains of Bellagio to pause shows Tuesday
Oscars producers promise cameos and surprises for Sunday’s (1 hour earlier) show