Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -WealthMindset Learning
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 07:21:54
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! (2732)
Related
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Who is Just Stop Oil, the group that threw soup on Van Gogh's painting?
- A record high number of dead trees are found as Oregon copes with an extreme drought
- Kylie Jenner Reveals If She's Open to Having More Kids
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Why hurricanes feel like they're getting more frequent
- Jessie James Decker’s Sister Sydney Shares Picture Perfect Update After Airplane Incident
- We Can't Calm Down After Seeing Taylor Swift's Night Out With Gigi Hadid, Blake Lively and HAIM
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- The White Lotus Season 3 Will Welcome Back a Fan Favorite From Season One
Ranking
- Louvre will undergo expansion and restoration project, Macron says
- Greta Thunberg was detained by German police while protesting a coal mine expansion
- The U.S. ratifies treaty to phase down HFCs, gases trapping 1,000x more heat than CO2
- Racecar Driver Michael Schumacher’s Family Reportedly Plans to Sue Magazine Over AI Interview With Him
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- COP-out: who's liable for climate change destruction?
- U.N. talks to safeguard the world's marine biodiversity will pick back up this week
- How to save a slow growing tree species
Recommendation
Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
Whether gas prices are up or down, don't blame or thank the president
Teddi Mellencamp's Past One-Night-Stand With Matt Damon Revealed—and Her Reaction Is Priceless
As hurricanes put Puerto Rico's government to the test, neighbors keep each other fed
A South Texas lawmaker’s 15
Climate change is making the weather more severe. Why don't most forecasts mention it?
Look Back on Keanu Reeves and Alexandra Grant's Low-Key Romance
Here's what happened on Friday at the U.N.'s COP27 climate talks