Current:Home > InvestSurpassing:Senate begins final push to expand Social Security benefits for millions of people -Clarity Finance Guides
Surpassing:Senate begins final push to expand Social Security benefits for millions of people
Robert Brown View
Date:2025-04-10 04:58:58
WASHINGTON (AP) — The SurpassingSenate 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! (8541)
Related
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Disney x Kate Spade’s Snow White Collection Is the Fairest of Them All & Everything Is an Extra 40% Off
- NWSL scraps draft in new CBA, a first in US but typical elsewhere in soccer
- Georgia man who accused NBA star Dwight Howard of sexual assault drops suit
- Trump wants to turn the clock on daylight saving time
- Canada’s largest railroads have come to a full stop. Here’s what you need to know
- FDA approves updated COVID-19 vaccines, shots should be available in days
- A bloomin' good deal: Outback Steakhouse gives away free apps to kick off football season
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Krispy Kreme, Dr Pepper collaborate on new doughnut collection to kick off football season
Ranking
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Coldplay perform Taylor Swift song in Vienna after thwarted terrorist plot
- Here’s the schedule for the DNC’s fourth and final night leading up to Harris’ acceptance speech
- Tyler Cameron Debuts Shocking Hair Transformation—And Fans Are Not Accepting This Change
- Highlights from Trump’s interview with Time magazine
- Southern Arizona man sought for alleged threats against Trump as candidate visits border
- Family of Gov. Jim Justice, candidate for US Senate, reaches agreement to avoid hotel foreclosure
- USA flag football QB says he's better at the sport than Patrick Mahomes 'because of my IQ'
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Make the Viral 'Cucumber Salad' With This Veggie Chopper That's 40% Off & Has 80,700+ 5-Star Reviews
Hungary says it will provide free tickets to Brussels for migrants trying to enter the EU
A big Social Security shake-up is coming in 2025. Are you prepared?
Meta donates $1 million to Trump’s inauguration fund
Megalopolis Trailer Featuring Fake Film Critic Quotes Pulled Amid Controversy
Trump's campaign removes 'Freedom' video after reports Beyoncé sent cease and desist
Missouri Supreme Court blocks agreement that would have halted execution