Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Blueprint Money Mastery
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 20:46:07
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! (613)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Apple event showcases new iPad Air, iPad Pro, Magic Keyboard and other updates
- Report says Chiefs’ Rashee Rice suspected of assault weeks after arrest over high-speed crash
- Afghan diplomat Zakia Wardak resigns after being accused of smuggling almost $2 million worth of gold into India
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Would limits on self-checkout prevent shoplifting? What a California bill would mean.
- How Kim Kardashian and Lana Del Rey Became Unexpected Duo While Bonding at 2024 Met Gala
- The TWR Supercat V-12 is the coolest Jaguar XJS you (probably) forgot about
- In ‘Nickel Boys,’ striving for a new way to see
- Ex-Packers returner Amari Rodgers vents about not getting Aaron Rodgers 'love' as rookie
Ranking
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Camila Cabello Gives Chilly Update After Carrying Ice Block at 2024 Met Gala
- Camila Cabello Shares the Surprising Story Behind Block of Ice Purse for 2024 Met Gala
- Police break up demonstration at UChicago; NYU students protest outside trustees' homes: Live updates
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Met Gala 2024: Gigi Hadid Reveals Her Favorite of Taylor Swift’s Tortured Poets Department Songs
- Texas mother sent text to ex-husband saying, 'Say goodbye to your son' before killing boy
- 'The Voice': Team Dan + Shay leads with 3 singers in Top 9, including Instant Save winner
Recommendation
A South Texas lawmaker’s 15
Ex-Packers returner Amari Rodgers vents about not getting Aaron Rodgers 'love' as rookie
Disney receives key approval to expand Southern California theme parks
'Dreams do come true': Man wins $837K lottery prize after sister dreams he'd find gold
$73.5M beach replenishment project starts in January at Jersey Shore
Viral ad from 1996 predicts $16 burger and $65k 'basic car': How accurate is it?
Khloe Kardashian Had Tristan Thompson Take Paternity Tests After Fearing Rob Kardashian Donated Sperm
Recreational marijuana backers try to overcome rocky history in South Dakota