Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Achieve Wealth Network
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 12:40:25
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! (7)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Climate Change Wiped Out Thousands of the West’s Most Iconic Cactus. Can Planting More Help a Species that Takes a Century to Mature?
- In Braddock, Imagining Environmental Justice for a ‘Sacrifice Zone’
- 4 reasons why now is a good time to buy an electric vehicle
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- For the First Time in Nearly Two Decades, the EPA Announces New Rules to Limit Toxic Air Pollutants From Chemical and Plastics Plants
- Selena Gomez Confirms Her Relationship Status With One Single TikTok
- Matt Damon Shares How Wife Luciana Helped Him Through Depression
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Kate Spade 24-Hour Flash Deal: Get This $400 Shoulder Bag for Just $95
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Inside Penelope Disick's 11th Birthday Trip to Hawaii With Pregnant Mom Kourtney Kardashian and Pals
- This Dime-Sized Battery Is a Step Toward an EV With a 1,000-Mile Range
- Promising to Prevent Floods at Treasure Island, Builders Downplay Risk of Sea Rise
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Climate Resolution Voted Down in El Paso After Fossil Fuel Interests and Other Opponents Pour More Than $1 Million into Opposition
- For the First Time in Nearly Two Decades, the EPA Announces New Rules to Limit Toxic Air Pollutants From Chemical and Plastics Plants
- A Proposed Utah Railway Could Quadruple Oil Production in the Uinta Basin, if Colorado Communities Don’t Derail the Project
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
Antarctic Researchers Report an Extraordinary Marine Heatwave That Could Threaten Antarctica’s Ice Shelves
Earth Could Warm 3 Degrees if Nations Keep Building Coal Plants, New Research Warns
Destroying ‘Forever Chemicals’ is a Technological Race that Could Become a Multibillion-dollar Industry
Current, future North Carolina governor’s challenge of power
Listening to the Endangered Sounds of the Amazon Rainforest
You Need to See Robert De Niro and Tiffany Chen’s Baby Girl Gia Make Her TV Debut
Young dolphin that had just learned to live without its mother found dead on New Hampshire shore