Current:Home > FinanceSenate 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
Will Sage Astor View
Date:2025-04-06 13:04:25
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! (87)
Related
- Billy Bean was an LGBTQ advocate and one of baseball's great heroes
- Questlove charts 50 years of SNL musical hits (and misses)
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Intel's stock did something it hasn't done since 2022
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Trump invites nearly all federal workers to quit now, get paid through September
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Ranking
- RFK Jr. closer to getting on New Jersey ballot after judge rules he didn’t violate ‘sore loser’ law
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- 2024 Olympics: Gymnast Ana Barbosu Taking Social Media Break After Scoring Controversy
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- All That You Wanted to Know About She’s All That
- Current, future North Carolina governor’s challenge of power
Recommendation
US auto safety agency seeks information from Tesla on fatal Cybertruck crash and fire in Texas
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
Senate begins final push to expand Social Security benefits for millions of people
Taylor Swift Cancels Austria Concerts After Confirmation of Planned Terrorist Attack
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
New data highlights 'achievement gap' for students in the US
What do we know about the mysterious drones reported flying over New Jersey?