Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -FinanceCore
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 06:19:24
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! (4)
Related
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Hacking at UnitedHealth unit cripples a swath of the U.S. health system: What to know
- 'Hairy Bikers' TV chef Dave Myers dies at 66 from cancer, co-host Si King reveals
- U.S. warns spring break travelers to Mexico to exercise increased caution
- A South Texas lawmaker’s 15
- With salacious testimony finished, legal arguments to begin over Fani Willis’ future in Trump case
- Watch: Tom Brady runs faster 40-yard dash 24 years after his NFL combine performance
- Remains of Florida girl who went missing 20 years ago found, sheriff says
- Retirement planning: 3 crucial moves everyone should make before 2025
- Travis Kelce Fills Blank Space in His Calendar With Star-Studded Malibu Outing
Ranking
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- A Guide to Hailey Bieber's Complicated Family Tree
- Arizona’s new voting laws that require proof of citizenship are not discriminatory, a US judge rules
- Family of Cuban dissident who died in mysterious car crash sues accused American diplomat-turned-spy
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- Cause of death for Adam Harrison, son of 'Pawn Stars' creator Rick Harrison, is released
- Judge skeptical of lawsuit brought by Elon Musk's X over hate speech research
- NFL competition committee working on proposal to ban controversial hip-drop tackle
Recommendation
Nevada attorney general revives 2020 fake electors case
Jax Taylor and Brittany Cartwright Separate After 4 Years of Marriage: Look Back at Their Romance
Assistant director says armorer handed gun to Alec Baldwin before fatal shooting of cinematographer
'A true diva in the making': 8 year old goes viral after singing national anthem at NBA game
Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
Why Jada Pinkett Smith Would Want Daughter Willow to Have a Relationship Like Hers
Teen sues high school after science teacher brought swords to class and instructed students to fight
Former Bengals, Buccaneers RB Giovani Bernard announces death of newborn son