Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -WealthConverge Strategies
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-15 09:23:36
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! (8832)
Related
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Serena Williams will host 2024 ESPY awards in July: 'She’ll bring elite star-power'
- 'All That' star Lori Beth Denberg alleges Dan Schneider 'preyed on' her
- The Best Foundations for Mature Skin, Fine Lines & Wrinkles, According to a Celebrity Makeup Artist
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Transgender rights targeted: 18 states sue to block protections for transgender employees
- Alice Munro, Nobel Prize winning author and master of the short story, dies at 92
- Gayle King turns heads on first Sports Illustrated Swimsuit cover at age 69
- Highlights from Trump’s interview with Time magazine
- A 100-year CD puts a new spin on long-term investing. Is it a good idea?
Ranking
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- MLB may have to act on strike-stealing after catcher's gruesome injury: 'Classic risk-reward'
- 'That was a big (expletive) win': Blue Jays survive clubhouse plague for extra-inning win
- Krispy Kreme teams up with Dolly Parton for new doughnuts: See the collection
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Tennessee governor OKs bill allowing death penalty for child rape convictions
- MLB may have to act on strike-stealing after catcher's gruesome injury: 'Classic risk-reward'
- Apple Music reveals more albums on its 100 Best Albums of all-time list. See numbers 90-81
Recommendation
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
United Methodists scrap their anti-gay bans. A woman who defied them seeks reinstatement as pastor
Caitlin Clark finishes with 20 points and 10 turnovers as Fever fall to Connecticut in WNBA opener
Shoppers Can't Get Enough of These Sweat-Wicking Workout Tanks and You Can Score 3 for $24.99
Meta donates $1 million to Trump’s inauguration fund
Jury selection consumes a second day at corruption trial of Sen. Bob Menendez
Should I tell my current employer I am looking for a new job? Ask HR
49ers vs. Jets kicks off 2024 'Monday Night Football' NFL schedule