Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -MoneyBase
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 19:35:25
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! (4263)
Related
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- Florida woman stabs boyfriend in eye with rabies needle for looking at other women: Police
- Activist who acknowledged helping flip police car during 2020 protest sentenced to 1 year in prison
- Dashcam video shows 12-year-old Michigan boy taking stolen forklift on joyride, police say
- Trump issues order to ban transgender troops from serving openly in the military
- Georgia Senate panel calls for abolishing state permits for health facilities
- GOP impeachment effort against Philadelphia prosecutor lands before Democratic-majority court
- Sarah Jessica Parker and Matthew Broderick's Son James Wilkie Shares Rare Family Photo
- The Daily Money: Spending more on holiday travel?
- Michigan to join state-level effort to regulate AI political ads as federal legislation pends
Ranking
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- UK’s Sunak ramps up criticism of Greek leader in Parthenon Marbles spat
- Morgan Wallen scores Apple Music's top global song of 2023, Taylor Swift and SZA trail behind
- Mediators look to extend truce in Gaza on its final day, with one more hostage swap planned
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Sandy Hook families offer to settle Alex Jones' $1.5 billion legal debt for at least $85 million
- 3 climate impacts the U.S. will see if warming goes beyond 1.5 degrees
- Sherrod Brown focuses on abortion access in Ohio Senate reelection race
Recommendation
The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
Kendall Jenner Reveals How She Navigates Heated Conversations With Momager Kris Jenner
Argentina’s president-elect announces his pick for economy minister
Margot Robbie Has a Surprising Answer on What She Took From Barbie Set
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Host of upcoming COP28 climate summit UAE planned to use talks to make oil deals, BBC reports
Blackhawks say Corey Perry engaged in unacceptable conduct and move to terminate his contract
Kenya court strikes out key clauses of a finance law as economic woes deepen from rising public debt