Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Wealth Navigators Hub
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 20:03:17
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! (71)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- 1 dead after a driver and biker group exchange gunfire in road rage dispute near Independence Hall
- Dolly Parton Spills the Tea on Why She Turned Down Royal Invite From Kate Middleton
- Nasty Gal End-of-Season Sale: Shop 25 Under $50 Everyday Essentials
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Fans run onto field and make contact with Atlanta Braves star Ronald Acuña Jr.
- Why Jessica Simpson Left Hollywood With Her Family and Moved to Nashville for the Summer
- Influencer Brianna Chickenfry Responds to Criticism of Zach Bryan Romance
- The company planning a successor to Concorde makes its first supersonic test
- Duke Energy braces for power outages ahead of Hurricane Idalia
Ranking
- The company planning a successor to Concorde makes its first supersonic test
- Philadelphia school district offering to pay parents $3,000 a year to take kids to school
- 'Shakedown': Los Angeles politician sentenced to 42 months on corruption charges, latest in city scandals
- Alabama presses effort to execute inmate by having him breathe pure nitrogen. And the inmate agrees.
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Justin Bieber Shows Support for Baby Girl Hailey Bieber's Lip Launch With Sweet Message
- 'Shakedown': Los Angeles politician sentenced to 42 months on corruption charges, latest in city scandals
- 'Experienced and enthusiastic hiker' found dead in Bryce Canyon National Park
Recommendation
Average rate on 30
Alumni grieve for Jesuit-run university seized by Nicaraguan government that transformed their lives
Joe the Plumber, who questioned Obama’s tax policies during the 2008 campaign, has died at 49
When does the new season of 'Family Guy' come out? Season 22 release date, cast, trailer.
The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
Spanish soccer federation officials call for Luis Rubiales' resignation
Elton John is 'in good health' after being hospitalized for fall at home
Steve Harvey and Wife Marjorie Call Out Foolishness and Lies Amid Claims She Cheated on Him