Current:Home > NewsSenate begins final push to expand Social Security benefits for millions of people -AlphaFinance Experts
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 21:17:13
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! (714)
Related
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Q&A: What an Author’s Trip to the Antarctic Taught Her About Climate—and Collective Action
- How to Watch the 2024 Grammys and E!'s Live From E! Red Carpet
- Ex-Red Sox GM Theo Epstein returns to Fenway Sports Group as part owner, senior advisor
- Shilo Sanders' bankruptcy case reaches 'impasse' over NIL information for CU star
- Here's what you need to know for 2024 US Olympic marathon trials in Orlando
- Dave Ramsey, a 22-year-old named Emma and what not to say to parents
- How Sherri Shepherd Avoids Being Overwhelmed by Health Care Trends Like Ozempic
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- Ohio Attorney General given until Monday to explain rejection of voting rights amendment to court
Ranking
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- The 58 greatest players in Super Bowl history: Chiefs' Patrick Mahomes, Travis Kelce make cut
- At least 3 people killed when small plane crashes into Florida mobile home
- The Daily Money: Cybercriminals at your door?
- Report: Lauri Markkanen signs 5-year, $238 million extension with Utah Jazz
- Dog rescued after more than a week trapped inside shipping container in Texas port
- Bruce Springsteen's mother, Adele Springsteen, dies at 98
- Power restored to BP oil refinery in Indiana after outage prompts evacuation, shutdown, company says
Recommendation
Bodycam footage shows high
Recently discharged patient shoots, wounds security officer at Kansas City hospital
Groundhog Day 2024 full video: Watch Punxsutawney Phil as he looks for his shadow
Caitlin Clark is the face of women’s basketball. Will she be on the 2024 Olympic team?
Kansas City Chiefs CEO's Daughter Ava Hunt Hospitalized After Falling Down a Mountain
She had appendicitis at age 12. Now she's researching why the appendix matters
Man gets life plus up to 80 years for killing of fellow inmate during Nebraska prison riot
The U.S. created an extraordinary number of jobs in January. Here's a deeper look