Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Horizon Finance School
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-15 20:13:51
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! (6594)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Damian Lillard talks Famous Daves and a rap battle with Shaq
- The Explosive Growth Of The Fireworks Market
- How DOES your cellphone work? A new exhibition dials into the science
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- An EV With 600 Miles of Range Is Tantalizingly Close
- Here's How Margot Robbie Really Achieves Her Barbie Blonde Hair
- Congress Urges EPA to Maintain Clean-Air Regulations on Chemical Recycling of Plastics
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- What recession? Why stocks are surging despite warnings of doom and gloom
Ranking
- A South Texas lawmaker’s 15
- Swimming Against the Tide, a Retired Connecticut Official Won’t Stop Fighting for the Endangered Atlantic Salmon
- The Second Biggest Disaster at Mount Vesuvius
- Erin Andrews and Husband Jarret Stoll Welcome First Baby Via Surrogate
- Meta releases AI model to enhance Metaverse experience
- U.S. is barred from combating disinformation on social media. Here's what it means
- Cities Are a Big Part of the Climate Problem. They Can Also Be a Big Part of the Solution
- 10 million sign up for Meta's Twitter rival app, Threads
Recommendation
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
A Timber Mill Below Mount Shasta Gave Rise to a Historic Black Community, and Likely Sparked the Wildfire That Destroyed It
Hollywood actors go on strike, say it's time for studio execs to 'wake up'
Project Runway All Stars' Rami Kashou on His Iconic Designs, Dressing Literal Royalty & More
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
How fast can the auto industry go electric? Debate rages as the U.S. sets new rules
Environmental Advocates Call on Gov.-Elect Wes Moore to Roll Back State Funding for Fossil Fuel Industry
Deep in the Democrats’ Climate Bill, Analysts See More Wins for Clean Energy Than Gifts for Fossil Fuel Business