Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -MarketEdge
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-13 23:02:24
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! (61563)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- Baltimore leaders accuse ship’s owner and manager of negligence in Key Bridge collapse
- A retirement expense of $413,000 you'll need to be prepared for
- Larry Demeritte will be first Black trainer in Kentucky Derby since 1989. How he beat the odds
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Columbia switches to hybrid learning amid protests over Israel’s war in Gaza
- The fatal shooting of an Ohio officer during a training exercise being probed as a possible homicide
- Rachel McAdams Shares How Her Family Is Supporting Her Latest Career Milestone
- The company planning a successor to Concorde makes its first supersonic test
- Celine Dion talks accepting stiff person syndrome diagnosis, first meeting husband at 12
Ranking
- Skins Game to make return to Thanksgiving week with a modern look
- See the bronze, corgi-adorned statue honoring Queen Elizabeth II on her 98th birthday: Photos
- Why Anne Hathaway Says Kissing Actors in Chemistry Tests Was So Gross
- Maui officials push back on some details in Hawaii attorney general report on deadly wildfire
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Chinese generosity in lead-up to cleared doping tests reflects its growing influence on WADA
- Céline Dion Gives Health Update Amid Battle With Stiff-Person Syndrome
- Maui officials push back on some details in Hawaii attorney general report on deadly wildfire
Recommendation
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Wall Street is looking to Tesla’s earnings for clues to Musk’s plan to restore company’s wild growth
The fatal shooting of an Ohio officer during a training exercise being probed as a possible homicide
Express files for bankruptcy, plans to close nearly 100 stores
Intellectuals vs. The Internet
Trump trial in hush money case gets underway with opening statements and first witness
Mall retailer Express files for bankruptcy, company closing nearly 100 stores
What happened to Kid Cudi? Coachella set ends abruptly after broken foot