Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -ThriveEdge Finance
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-23 05:23:44
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! (7)
Related
- What do we know about the mysterious drones reported flying over New Jersey?
- Rescue begins of ailing US researcher stuck 3,000 feet inside a Turkish cave, Turkish officials say
- The world is still falling short on limiting climate change, according to U.N. report
- 7 habits to live a healthier life, inspired by the world's longest-lived communities
- 'We're reborn!' Gazans express joy at returning home to north
- 'Star Trek' stars join the picket lines in Hollywood
- Soccer star Achraf Hakimi urges Moroccans to ‘help each other’ after earthquake
- These Looks From New York Fashion Week's Spring/Summer 2024 Runways Will Make You Swoon
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Situation Room in White House gets $50 million gut renovation. Here's how it turned out.
Ranking
- Meta donates $1 million to Trump’s inauguration fund
- Queen Elizabeth II remembered a year after her death as gun salutes ring out for King Charles III
- Jennifer Lopez, Sofia Richie and More Stars Turn Heads at Ralph Lauren's NYFW 2024 Show
- Trump Organization offloads Bronx golf course to casino company with New York City aspirations
- Senate begins final push to expand Social Security benefits for millions of people
- Emma Stone-led ‘Poor Things’ wins top prize at 80th Venice Film Festival
- House GOP seeks access to Biden's vice presidential records from Archives, seeking any information about contacts with Hunter Biden or his business partners
- Ashton Kutcher and Mila Kunis apologize for ‘pain’ their letters on behalf of Danny Masterson caused
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Separatist parliament in Azerbaijan’s breakaway Nagorno-Karabakh region elects new president
What's causing massive seabird die-offs? Warming oceans part of ecosystem challenges
Maldivians vote for president in a virtual geopolitical race between India and China
Intel's stock did something it hasn't done since 2022
Judge denies Mark Meadows' bid to remove his Georgia election case to federal court
'The Fraud' asks questions as it unearths stories that need to be told
American teen Coco Gauff wins US Open women's final for first Grand Slam title