Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -WealthMindset Learning
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 09:02:17
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
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- Fantasy football waiver wire Week 15 adds: 5 players you need to consider picking up now
- Ariana Madix Reveals the Real Reason She and Ex Tom Sandoval Haven't Sold Their House
- Supreme Courts in 3 states will hear cases about abortion access this week
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- India’s Supreme Court upholds government’s decision to remove disputed Kashmir’s special status
- A day of 2 prime ministers in Poland begins the delayed transition to a centrist, pro-EU government
- We unpack Diddy, hip-hop, and #MeToo
- The Grammy nominee you need to hear: Esperanza Spalding
- Is Kyle Richards Getting Mauricio Umansky a Christmas Gift Amid Separation? She Says...
Ranking
- The company planning a successor to Concorde makes its first supersonic test
- WHO resolution on the Israel-Hamas conflict hopes for 'health as a bridge to peace'
- Philippines military chief voices anger after latest Chinese coast guard incident in South China Sea
- Worried your kid might have appendicitis? Try the jump test
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Person of interest taken into custody in killing of Detroit synagogue leader Samantha Woll
- Holiday tree trends in 2023: 'Pinkmas' has shoppers dreaming of a pink Christmas
- MLB free agency: Five deals that should happen with Shohei Ohtani off the board
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
Jury trial will decide how much Giuliani must pay election workers over false election fraud claims
Zelenskyy will meet Biden at the White House amid a stepped-up push for Congress to approve more aid
In 911 calls, panicked students say they were stuck in rooms amid Las Vegas campus shooting
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
Negotiators, activists and officials ramp up the urgency as climate talks enter final days
Extraordinarily rare white leucistic gator with twinkling blue eyes born in Florida
CBS News poll finds Americans feel inflation's impact on living standards, opportunities