Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -Elevate Money Guide
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-16 16:20:57
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! (99)
Related
- US appeals court rejects Nasdaq’s diversity rules for company boards
- As DeSantis and Haley face off in Iowa GOP debate, urgency could spark fireworks
- Full House Cast Honors Bob Saget on 2nd Anniversary of His Death
- Unsealing of documents related to decades of Jeffrey Epstein’s sexual abuse of girls concludes
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- County official Richardson says she’ll challenge US Rep. McBath in Democratic primary in Georgia
- Last undefeated men's college basketball team falls as Iowa State sinks No. 2 Houston
- This Amika Hair Mask Is So Good My Brother Steals It From Me
- South Korean president's party divided over defiant martial law speech
- Olympic skater under investigation for alleged sexual assault missing Canadian nationals
Ranking
- Bodycam footage shows high
- In $25M settlement, North Carolina city `deeply remorseful’ for man’s wrongful conviction, prison
- In stunning decision, Tennessee Titans fire coach Mike Vrabel after six seasons
- Adan Canto, known for his versatility in roles in ‘X-Men’ and ‘Designated Survivor,’ dies at 42
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Ronnie Long, North Carolina man who spent 44 years in prison after wrongful conviction, awarded $25M settlement
- Mexican authorities investigate massacre after alleged attack by cartel drones and gunmen
- For 2024, some simple lifestyle changes can improve your little piece of the planet
Recommendation
Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
'Holding our breath': Philadelphia officials respond to measles outbreak from day care
No charges to be filed in death of toddler who fell into cistern during day care at Vermont resort
DeSantis says nominating Trump would make 2024 a referendum on the ex-president rather than Biden
Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
'Holding our breath': Philadelphia officials respond to measles outbreak from day care
New Mexico man pleads guilty in drive-by shootings on homes of Democratic lawmakers
Special counsel Jack Smith and Judge Tanya Chutkan, key figures in Trump 2020 election case, are latest victims of apparent swatting attempts