Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -FundSphere
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-26 06:11:02
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! (3)
Related
- Chief beer officer for Yard House: A side gig that comes with a daily swig.
- Trump will be honored as Time’s Person of the Year and ring the New York Stock Exchange bell
- 'Mary': How to stream, what biblical experts think about Netflix's new coming
- Fewer U.S. grandparents are taking care of grandchildren, according to new data
- Olympic men's basketball bracket: Results of the 5x5 tournament
- Video shows drone spotted in New Jersey sky as FBI says it is investigating
- North Carolina announces 5
- US weekly jobless claims unexpectedly rise
- 2024 Olympics: Gymnast Ana Barbosu Taking Social Media Break After Scoring Controversy
- We can't get excited about 'Kraven the Hunter.' Don't blame superhero fatigue.
Ranking
- Bodycam footage shows high
- Biden commutes roughly 1,500 sentences and pardons 39 people in biggest single
- Chiquis comes from Latin pop royalty. How the regional Mexican star found her own crown
- When does 'No Good Deed' come out? How to watch Ray Romano, Lisa Kudrow's new dark comedy
- Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
- Wisconsin kayaker who faked his death and fled to Eastern Europe is in custody, online records show
- Billboard Music Awards 2024: Complete winners list, including Taylor Swift's historic night
- Hate crime charges dropped against 12 college students arrested in Maryland assault
Recommendation
Taylor Swift makes surprise visit to Kansas City children’s hospital
Billboard Music Awards 2024: Complete winners list, including Taylor Swift's historic night
California judges say they’re underpaid, and their new lawsuit could cost taxpayers millions
Shanghai bear cub Junjun becomes breakout star
Michigan lawmaker who was arrested in June loses reelection bid in Republican primary
Beyoncé takes home first award in country music category at 2024 Billboard Music Awards
'Mary': How to stream, what biblical experts think about Netflix's new coming
Lil Durk suspected of funding a 2022 murder as he seeks jail release in separate case