Current:Home > MarketsSenate 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:2025-04-19 00:22:36
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! (44)
Related
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Texas woman says a snake fell out of the sky and onto her arm – then, a hawk swooped in and attacked
- From Astronomy to Blockchain: The Journey of James Williams, the Crypto Visionary
- NYC doctor accused of drugging, filming himself sexually assaulting patients
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- 5 white nationalists sue Seattle man for allegedly leaking their identities
- Dakota Johnson Shares Rare Insight Into Her Bond With Riley Keough
- US judge to hear legal battle over Nevada mustang roundup where 31 wild horses have died
- What polling shows about Minnesota Gov. Tim Walz, Harris’ new running mate
- Trump vows to keep talking about criminal cases despite prosecutors pushing for protective order
Ranking
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- 3 fishermen plucked from Atlantic waters off Nantucket by Coast Guard helicopter crew
- What extra fees can you face when buying a car?
- Here's when you should — and shouldn't — use autopay for your bills
- Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
- After 2023 World Cup loss, self-proclaimed patriots show hate for an American team
- Ohio State athletic director Gene Smith says he’ll retire in July 2024
- Richard Sherman to join Skip Bayless on 'Undisputed,' per report
Recommendation
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Beauty on a Budget: The Best Rated Drugstore Concealers You Can Find on Amazon for $10 or Less
Olivia Newton-John's Family Details Supernatural Encounters With Her After Her Death
Unsafe levels of likely cancer-causer found in underground launch centers on Montana nuclear missile base
Giants, Lions fined $200K for fights in training camp joint practices
SafeSport suspends ex-US Olympic snowboarding coach Peter Foley after sexual misconduct probe
21 Only Murders in the Building Gifts Every Arconiac Needs
3 fishermen plucked from Atlantic waters off Nantucket by Coast Guard helicopter crew