Current:Home > MySenate begins final push to expand Social Security benefits for millions of people -Aspire Money Growth
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 05:12:12
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
- The White House is cracking down on overdraft fees
- 3 women killed, baby wounded in shooting at Tulsa apartment
- There were 100 recalls of children's products last year — the most since 2013
- What is the DMZ? Map and pictures show the demilitarized zone Travis King crossed into North Korea
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- The number of Black video game developers is small, but strong
- 5 big moments from the week that rocked the banking system
- Elon Musk reveals new ‘X’ logo to replace Twitter’s blue bird
- Intel's stock did something it hasn't done since 2022
- It Was an Old Apple Orchard. Now It Could Be the Future of Clean Hydrogen Energy in Washington State
Ranking
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Judge says he plans to sentence gynecologist who sexually abused patients to 20 years in prison
- US Forest Service burn started wildfire that nearly reached Los Alamos, New Mexico, agency says
- Elon Musk reveals new ‘X’ logo to replace Twitter’s blue bird
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Inside Clean Energy: Which State Will Be the First to Ban Natural Gas in New Buildings?
- Novo Nordisk will cut some U.S. insulin prices by up to 75% starting next year
- Baltimore Continues Incinerating Trash, Despite Opposition from its New Mayor and City Council
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
The U.K. is the latest to ban TikTok on government phones because of security concerns
Dancing With the Stars Alum Mark Ballas Expecting First Baby With Wife BC Jean
What to know about the Silicon Valley Bank collapse, takeover and fallout
Retirement planning: 3 crucial moves everyone should make before 2025
The Solid-State Race: Legacy Automakers Reach for Battery Breakthrough
Chris Martin and Dakota Johnson's Love Story Is Some Fairytale Bliss
Charity Lawson Shares the Must-Haves She Packed for The Bachelorette Including a $5 Essential