Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -EliteFunds
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 07:47:56
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! (5)
Related
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- The number of hungry people has doubled in 10 countries. A new report explains why
- Ukraine's counteroffensive against Russia appears to be in opening phases
- Montana health officials call for more oversight of nonprofit hospitals
- A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
- Biden touts his 'cancer moonshot' on the anniversary of JFK's 'man on the moon' speech
- Merck sues U.S. government over plan to negotiate Medicare drug prices, claiming extortion
- Princess Charlotte Is a Royally Perfect Big Sister to Prince Louis at King Charles III's Coronation
- US appeals court rejects Nasdaq’s diversity rules for company boards
- New Questions about Toxic By-Products of Biofuel Combustion
Ranking
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Astrud Gilberto, The Girl from Ipanema singer who helped popularize bossa nova, dead at 83
- See Every Guest at King Charles III and Queen Camilla's Coronation
- How a Texas court decision threatens Affordable Care Act protections
- The Daily Money: Disney+ wants your dollars
- Don’t Miss These Jaw-Dropping Pottery Barn Deals as Low as $6
- Ethan Orton, teen who brutally killed parents in Cedar Rapids, Iowa, sentenced to life in prison
- Climate and Weather Disasters Cost U.S. a Record $306 Billion in 2017
Recommendation
'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
See Every Guest at King Charles III and Queen Camilla's Coronation
Today’s Climate: June 14, 2010
Every Royally Adorable Moment of Prince George, Princess Charlotte and Prince Louis at the Coronation
Southern California rocked by series of earthquakes: Is a bigger one brewing?
How Biden's declaring the pandemic 'over' complicates efforts to fight COVID
When Should I Get My Omicron Booster Shot?
Why The Bladder Is Number One!