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
EchoSense Quantitative Think Tank Center View
Date:2025-04-11 06:45:22
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! (364)
Related
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- 'Miracle house' owner hopes it will serve as a base for rebuilding Lahaina
- 2 killed in Maine training flight crash identified as student pilot and instructor
- Skincare is dewy diet culture; plus, how to have the Fat Talk
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Danny Trejo shares he's 55-years sober: 'One day at a time'
- Sandwich chain Subway will be sold to fast-food investor Roark Capital
- Lawsuit over deadly seaplane crash in Washington state targets aircraft operator and manufacturer
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Skincare is dewy diet culture; plus, how to have the Fat Talk
Ranking
- New data highlights 'achievement gap' for students in the US
- Angels two-way star Shohei Ohtani has UCL tear, won't pitch for rest of 2023 season
- Former residents of a New Hampshire youth center demand federal investigation into abuse claims
- Lawsuit over deadly seaplane crash in Washington state targets aircraft operator and manufacturer
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Swimmable cities a climate solution? Amid scorching heat, cities rethink access to waterways
- Paul Flores, Kristin Smart's killer, hospitalized after being attacked in prison, lawyer says
- Indian Chandrayaan-3 moon mission makes history after landing near lunar south polar region
Recommendation
Military service academies see drop in reported sexual assaults after alarming surge
'Hawaii is one family': Maui wildfire tragedy ripples across islands
A Trump supporter indicted in Georgia is also charged with assaulting an FBI agent in Maryland
Bud Light goes on offense with NFL campaign, hopes to overcome boycott, stock dip
'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
Climate change made it in the GOP debate. Some young Republicans say that's a win
Jailed WSJ reporter Evan Gershkovich arrives at a hearing on extending his detention
San Antonio shooter wounds 2 officers during car pursuit, police say