Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -RiskRadar
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 01:27:02
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! (91)
Related
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- KISS OF LIFE reflects on sold
- New York Climate Activists Urge Gov. Hochul to Sign ‘Superfund’ Bill
- With the Eras Tour over, what does Taylor Swift have up her sleeve next? What we know
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- TikTok asks Supreme Court to review ban legislation, content creators react: What to know
- South Korea opposition leader Lee says impeaching Yoon best way to restore order
- 'Unimaginable situation': South Korea endures fallout from martial law effort
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Fatal Hougang stabbing: Victim was mum of 3, moved to Singapore to provide for family
Ranking
- Former Syrian official arrested in California who oversaw prison charged with torture
- Federal appeals court takes step closer to banning TikTok in US: Here's what to know
- Arizona city sues federal government over PFAS contamination at Air Force base
- Hougang murder: Victim was mum of 3, moved to Singapore to provide for family
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Snoop Dogg Details "Kyrptonite" Bond With Daughter Cori Following Her Stroke at 24
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Only about 2 in 10 Americans approve of Biden’s pardon of his son Hunter, an AP
Recommendation
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
KISS OF LIFE reflects on sold
Krispy Kreme's 'Day of the Dozens' offers 12 free doughnuts with purchase: When to get the deal
CEO shooting suspect Luigi Mangione may have suffered from spondylolisthesis. What is it?
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Orcas are hunting whale sharks. Is there anything they can't take down?
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
The Daily Money: Now, that's a lot of zeroes!