Current:Home > ScamsSenate begins final push to expand Social Security benefits for millions of people -Clarity Finance Guides
Senate begins final push to expand Social Security benefits for millions of people
Chainkeen Exchange View
Date:2025-04-07 16:56:53
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! (2)
Related
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Beyoncé hasn't won Grammys album of the year. Who was the last Black woman to hold the prize?
- Indiana man started crying when he found out he won $250,000 from scratch-off
- These Grammy 2024 After-Party Photos Are Pitch Perfect
- North Carolina justices rule for restaurants in COVID
- Sen. Kyrsten Sinema rebukes election question that makes Americans really hate politics
- Why problems at a key Boeing supplier may help explain the company's 737 Max 9 mess
- Life-threatening flood threat as heavy rain and powerful winds clobber California
- Intellectuals vs. The Internet
- These 33 Under $40 Valentine’s Day Jewelry Pieces Look Expensive and They’ll Arrive on Time for Gifting
Ranking
- Meta donates $1 million to Trump’s inauguration fund
- Horoscopes Today, February 3, 2024
- Shannen Doherty Responds After Alyssa Milano Denies Getting Her Fired From Charmed
- Why Miley Cyrus Called Out Audience at 2024 Grammy Awards
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- 'Jersey Shore' star Mike Sorrentino shares video of his two-year-old kid choking rescue
- Tarek El Moussa Reveals He Finally Understands Why Christina Hall Left Him
- Texas Gov. Abbott insists state has right to protect border amid feud with President Biden
Recommendation
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Michigan city ramps up security after op-ed calls it ‘America’s jihad capital’
2024 Grammys: Olivia Rodrigo and Taylor Swift Prove Feud Rumors Are Old News
A 19-year-old man who drowned in lake outside SoFi Stadium was attending concert: Reports
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
I was wrong: Taylor Swift-Travis Kelce romance isn't fake. Apologies, you lovebirds.
Indiana man started crying when he found out he won $250,000 from scratch-off
Our 2024 Grammys Recap