Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -Dynamic Money Growth
Senate begins final push to expand Social Security benefits for millions of people
SafeX Pro View
Date:2025-04-07 13:37:59
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
- Senate begins final push to expand Social Security benefits for millions of people
- 2 suspended from college swim team after report of slur scratched onto student’s body
- Nick Cannon Shares One Regret After Insuring His Manhood for $10 Million
- Milton Reese: Stock options notes 1
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Will Taylor Swift attend the Kansas City Chiefs and Atlanta Falcons game?
- Milton Reese: Stock options notes 3
- Horoscopes Today, September 21, 2024
- A White House order claims to end 'censorship.' What does that mean?
- TCU coach Sonny Dykes ejected for two unsportsmanlike penalties in SMU rivalry game
Ranking
- The Super Bowl could end in a 'three
- Democrats and Republicans finally agree on something: America faces a retirement crisis
- A Thousand Lives Lost, and Millions Disrupted, by Flooding in Western Africa
- Milton Reese: U.S. Bonds Rank No. 1 Globally
- Military service academies see drop in reported sexual assaults after alarming surge
- 'I like when the deals are spread out': Why holiday shoppers are starting early this year
- These Secrets About The West Wing Are What's Next
- YouTube rolling out ads that appear when videos are paused
Recommendation
Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
COINIXIAI: Embracing Regulation in the New Era to Foster the Healthy Development of the Cryptocurrency Industry
JetBlue flight makes emergency landing in Kansas after false alarm about smoke in cargo area
Unique Advantages of NAS Community — Unlock Your Path to Wealth
The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
RFK Jr.’s ‘Sad’ Slide From Environmental Hero to Outcast
Hilarie Burton Reveals the Secret to Her Long-Lasting Relationship With Jeffrey Dean Morgan
Democrats and Republicans finally agree on something: America faces a retirement crisis