Current:Home > MySenate begins final push to expand Social Security benefits for millions of people -Streamline Finance
Senate begins final push to expand Social Security benefits for millions of people
NovaQuant Quantitative Think Tank Center View
Date:2025-04-06 15:33:12
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! (75)
Related
- Chief beer officer for Yard House: A side gig that comes with a daily swig.
- Armie Hammer Says His Mom Gifted Him a Vasectomy for His 38th Birthday
- NFL power rankings Week 11: Steelers, Eagles enjoying stealthy rises
- Officer injured at Ferguson protest shows improvement, transferred to rehab
- Billy Bean was an LGBTQ advocate and one of baseball's great heroes
- What are the best financial advising companies? Help USA TODAY rank the top U.S. firms
- Investigators believe Wisconsin kayaker faked his own death before fleeing to eastern Europe
- Kraft Heinz stops serving school-designed Lunchables because of low demand
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Judge moves to slash $38 million verdict in New Hampshire youth center abuse case
Ranking
- 2024 Olympics: Gymnast Ana Barbosu Taking Social Media Break After Scoring Controversy
- Controversial comedian Shane Gillis announces his 'biggest tour yet'
- Missing Ole Miss student declared legally dead as trial for man accused in his death looms
- Keke Palmer Says Ryan Murphy “Ripped” Into Her Over Scream Queens Schedule
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Why Kathy Bates Decided Against Reconstruction Surgery After Double Mastectomy for Breast Cancer
- Contained, extinguished and mopping up: Here’s what some common wildfire terms mean
- Contained, extinguished and mopping up: Here’s what some common wildfire terms mean
Recommendation
Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
Angels sign Travis d'Arnaud: Former All-Star catcher gets multiyear contract in LA
My Chemical Romance returns with ‘The Black Parade’ tour
Watch: Military dad's emotional return after a year away
2024 Olympics: Gymnast Ana Barbosu Taking Social Media Break After Scoring Controversy
Queen Elizabeth II's Final 5-Word Diary Entry Revealed
Amtrak service disrupted after fire near tracks in New York City
Roster limits in college small sports put athletes on chopping block while coaches look for answers