Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -InvestPioneer
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-13 08:02:05
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! (4689)
Related
- Why members of two of EPA's influential science advisory committees were let go
- Girlfriend of Surfer Who Died in Mexico Shares Their Touching Text Messages on Signs After Loss
- What to watch this weekend, from the latest 'Planet of the Apes' to the new 'Doctor Who'
- Virginia budget leaders reach compromise with governor on state spending plan
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- 700 union workers launch 48-hour strike at Virgin Hotels casino off Las Vegas Strip
- Suspect wanted, charged with murder of attorney after shooting at McDonald's in Houston
- The Best Cream Bronzers for a Natural Bronze and Vacation-Ready Glow
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Summer House: Martha's Vineyard: Nick, Noelle and Shanice Clash During Tense House Meeting
Ranking
- What to watch: O Jolie night
- Target says it's cutting back on Pride merchandise at some stores after backlash
- Federal judge orders Florida man held without bond in his estranged wife’s disappearance in Spain
- 700 union workers launch 48-hour strike at Virgin Hotels casino off Las Vegas Strip
- The Daily Money: Spending more on holiday travel?
- 'Altercation' at Drake's Toronto mansion marks third police-involved incident this week
- Woman sentenced to 55 years for death of longtime friend stabbed nearly 500 times
- Seattle to open overdose recovery center amid rising deaths
Recommendation
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
Specialty lab exec gets 10-year prison term for 11 deaths from tainted steroids in Michigan
Federal judge orders Florida man held without bond in his estranged wife’s disappearance in Spain
Apple apologizes for iPad Pro Crush! commercial after online criticism
Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
Bob Ross’ legacy lives on in new ‘The Joy of Painting’ series
Love Is Blind's Bliss Poureetezadi Gives Birth, Welcomes Baby With Zack Goytowski
After infertility, other struggles, these moms are grateful to hear 'Happy Mother's Day'