Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -MarketMind
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-13 06:41:09
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! (51971)
Related
- Jamaica's Kishane Thompson more motivated after thrilling 100m finish against Noah Lyles
- 'Get out of here or die': Asheville man describes being trapped under bridge during Helene
- Twin babies who died alongside their mother in Georgia are youngest-known Hurricane Helene victims
- The Country’s Second-Largest Coal Plant May Get a Three-Year Reprieve From Retirement. Why?
- USA men's volleyball mourns chance at gold after losing 5-set thriller, will go for bronze
- Helene’s powerful storm surge killed 12 near Tampa. They didn’t have to die
- Marshawn Lynch is 'College GameDay' guest picker for Cal-Miami: Social media reacts
- With 'The Woke Agenda,' Calgorithm propels California football into social media spotlight
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- 'The coroner had to pull them apart': Grandparents killed in Hurricane Helene found hugging in bed
Ranking
- Everything Simone Biles did at the Paris Olympics was amplified. She thrived in the spotlight
- TikToker Mr. Prada Charged With Second-Degree Murder After Therapist Was Found Dead
- Tia Mowry Sets the Record Straight on Relationship With Sister Tamera Mowry
- Manslaughter case in fatal police shooting outside Virginia mall goes to jury
- Retirement planning: 3 crucial moves everyone should make before 2025
- Former county sheriff has been appointed to lead the Los Angeles police force
- Blac Chyna Reassures Daughter Dream, 7, About Her Appearance in Heartwarming Video
- Saoirse Ronan Shares Rare Insight Into Relationship With Husband Jack Lowden
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
Aces guards have been 'separation factor' last two postseasons. Now, they're MIA
Nicole Kidman and Keith Urban's Daughter Sunday Rose Has the Most Unique Accent of All
Naomi Watts joined at New York Film Festival by her 'gigantic' dog co-star
$73.5M beach replenishment project starts in January at Jersey Shore
Nikki Garcia's Sister Brie Garcia Sends Message to Trauma Victims After Alleged Artem Chigvintsev Fight
NYC accelerates school leadership change as investigations swirl around mayor’s indictment
Why Jordyn Woods and Boyfriend Karl-Anthony Towns Are Sparking Engagement Rumors