Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -ProfitSphere Academy
Senate begins final push to expand Social Security benefits for millions of people
Robert Brown View
Date:2025-04-10 06:00:49
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! (2553)
Related
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- British filmmaker Terence Davies dies at 77
- Max Verstappen captures third consecutive Formula 1 championship
- U.S. lawmakers led by Senate Majority Leader Schumer arrive in China on first such visit since 2019
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Ready to cold plunge? We dive into the science to see if it's worth it
- A taxiing airplane collides with a Chicago airport shuttle, injuring 2 people
- Harper homers, Phillies shut down slugging Braves 3-0 in Game 1 of NLDS
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- 2023 Nobel Peace Prize awarded to Narges Mohammadi, women's rights activist jailed in Iran
Ranking
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- NJ attorney general looking into 2018 investigation of crash involving Nadine Menendez
- Bear and 2 cubs captured, killed after sneaking into factory in Japan amid growing number of reported attacks
- Animal lovers rush to the rescue after dozens of cats are left to die in Abu Dhabi desert
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Precision missile strike on cafe hosting soldier’s wake decimates Ukrainian village
- Wanted: Social workers
- Simone Biles vault final shows athlete safety doesn't matter to FIG at world championships
Recommendation
Questlove charts 50 years of SNL musical hits (and misses)
Kaiser Permanente workers set to end historic strike, but another may loom
Marlins ace Sandy Alcantara will miss 2024 season after undergoing Tommy John surgery
Family reveals distressing final message sent from couple killed by grizzly in Canada
What do we know about the mysterious drones reported flying over New Jersey?
Auto workers stop expanding strikes against Detroit Three after GM makes battery plant concession
Chiefs’ Kelce: ‘Just got to keep living’ as relationship with Taylor Swift consumes spotlight
Doctor who treated Morgan State shooting victim is gunshot survivor himself