Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -NextLevel Wealth Academy
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 09:38:59
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! (38)
Related
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- UN chief says people are looking to leaders for action and a way out of the current global ‘mess’
- Family says 14-year-old daughter discovered phone taped to back of toilet seat on flight to Boston
- Coca Cola v. Coca Pola
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Ex-Indiana substitute teacher gets 10 months in prison for sending hoax bomb threats to schools, newspaper
- Bill Maher postpones HBO 'Real Time' return during writers' strike following backlash
- Kim Kardashian Proves North West’s New Painting Is a Stroke of Genius
- Trump invites nearly all federal workers to quit now, get paid through September
- Heading for UN, Ukraine’s president questions why Russia still has a place there
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Hailee Steinfeld Spotted at Buffalo Bills NFL Game Amid Romance With Quarterback Josh Allen
- Katy Perry sells music catalog to Litmus Music for reported $225 million
- Attack on Turkish-backed opposition fighters in Syria kills 13 of the militants, activists say
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Nissan, Kia, Mercedes-Benz, and Ford among 195,000 vehicles recalled: Check car recalls here.
- Mama bear, cub raid Krispy Kreme delivery van in Alaska, scarf dozens of doughnuts
- Girl killed during family's Idaho camping trip when rotted tree falls on tent
Recommendation
Rylee Arnold Shares a Long
Oprah chooses Wellness: A novel by Nathan Hill as new book club pick
Opponents in an Alabama lawsuit over Confederate monument protests reach a tentative settlement
Attorneys for man charged with killing 2 teenage Indiana girls argue they died in ritual sacrifice
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
Cowboys look dominant, but one shortcoming threatens to make them 'America's Tease' again
Those worried about poor air quality will soon be able to map out the cleanest route
Historic banyan tree in Maui shows signs of growth after wildfire