Current:Home > NewsSenate begins final push to expand Social Security benefits for millions of people -Edge Finance Strategies
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 06:05:46
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! (35)
Related
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Krispy Kreme scares up Ghostbusters doughnut collection: Here are the new flavors
- Opinion: Trading for Davante Adams is a must for plunging Jets to save season
- LeBron James and son Bronny become first father-son duo to play together in NBA history
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Patriots captain Jabrill Peppers arrested on assault, strangulation, drug charges
- Week 6 college football grades: Temple's tough turnover, Vanderbilt celebration lead way
- Taylor Swift's Net Worth Revealed After Becoming a Billionaire
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Coco Gauff coasts past Karolina Muchova to win China Open final
Ranking
- Meta releases AI model to enhance Metaverse experience
- Tia Mowry Details Why Her Siblings Are “Not as Accessible” to Each Other
- LeBron James and son Bronny become first father-son duo to play together in NBA history
- Opinion: Trading for Davante Adams is a must for plunging Jets to save season
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Lakers' Bronny James focusing on 'being a pest on defense' in preseason
- Billie Jean King named grand marshal for the 136th Rose Parade on Jan. 1
- Kamala Harris, Donald Trump tied amongst bettors for election win after VP debate
Recommendation
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
'The Princess Diaries 3' prequel is coming, according to Anne Hathaway: 'MIracles happen'
Mega Millions winning numbers for October 4 drawing: Jackpot at $129 million
The Biden administration isn’t extending a two-year program for migrants from 4 nations
Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
Billie Eilish setlist: See the songs she's playing on her flashy Hit Me Hard and Soft tour
The Garth Brooks news is a big disappointment − and an important reminder
New 'Menendez Brothers' documentary features interviews with Erik and Lyle 'in their own words'