Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -AssetBase
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 02:59:25
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! (3)
Related
- Trump wants to turn the clock on daylight saving time
- Horoscopes Today, March 20, 2024
- Major airlines want to hear how Boeing plans to fix problems in the manufacturing of its planes
- Man's body found in Rochester water supply reservoir was unnoticed for a month, as officials say water is safe to drink
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Virginia wildfire map: See where fires are blazing as some areas deal with road closures
- Christine Quinn's Husband Christian Dumontet Arrested Again After Violating Protective Order
- Emma Heming Willis Says Marriage to Bruce Willis Is “Stronger Than Ever” Amid Health Battle
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Emma Heming Willis Says Marriage to Bruce Willis Is “Stronger Than Ever” Amid Health Battle
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- When would a TikTok ban go into effect?
- How much money is bet on March Madness? The 2024 NCAA tournament is expected to generate billions.
- Megan Fox Clarifies Which Plastic Surgery Procedures She's Had Done
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- US surgeons have transplanted a pig kidney into a patient
- Will March Madness produce mascot mayhem? Some schools have history of bad behavior
- 2 teens arrested after abducted 21-year-old man found dead in remote Utah desert
Recommendation
Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
One of your favorite cookies could soon taste different
A third man is now charged with murder in the Kansas City Super Bowl rally shooting
Powerball numbers 3/20/24: Consider these trending numbers for the $750M Powerball drawing?
A South Texas lawmaker’s 15
This Real Housewives of Beverly Hills Star Is Leaving After Season 13
A small town suspended its entire police force. Residents want to know why
Breakfast is the most important meal of the day. With inflation, it's also expensive. See costs