Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Visionary Wealth Guides
Senate begins final push to expand Social Security benefits for millions of people
Rekubit Exchange View
Date:2025-04-09 13:05:05
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! (8)
Related
- Questlove charts 50 years of SNL musical hits (and misses)
- Saniya Rivers won a title at South Carolina and wants another, this time with NC State
- More than 500 New Yorkers set to be considered as jurors in Trump's hush money trial
- J. Cole drops surprise album 'Might Delete Later,' including response to Kendrick Lamar's diss
- Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
- South Carolina vs. NC State highlights: How Gamecocks dominated Wolfpack in Final Four
- Mercedes workers at an Alabama plant call for union representation vote
- Former tribal leader in South Dakota convicted of defrauding tribe
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Caitlin Clark got people's attention. There's plenty of talent in the game to make them stay
Ranking
- The Best Stocking Stuffers Under $25
- What's story behind NC State's ice cream tradition? How it started and what fans get wrong
- Sacha Baron Cohen and Isla Fisher Break Up After 13 Years of Marriage
- New Mexico electric vehicle mandates to remain in place as auto dealers fight the new rules
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Mississippi state budget is expected to shrink slightly in the coming year
- Kristin Lyerly, Wisconsin doctor who sued to keep abortion legal in state, enters congressional race
- Boeing’s CEO got compensation worth nearly $33 million last year but lost a $3 million bonus
Recommendation
All That You Wanted to Know About She’s All That
Bronny James, son of LeBron James, declares for the NBA Draft
ESPN executive Norby Williamson – who Pat McAfee called out – done after nearly 40 years
Only Julia Fox Could Make Hair Extension Shoes Look Fabulous
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
RFK Jr. campaign disavows its email calling Jan. 6 defendants activists
Boeing’s CEO got compensation worth nearly $33 million last year but lost a $3 million bonus
University of Texas professors demand reversal of job cuts from shuttered DEI initiative