Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -Thrive Money Mindset
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-14 19:31:23
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! (5)
Related
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Pruitt’s Anti-Climate Agenda Is Facing New Challenge From Science Advisers
- Nobel Prize in Chemistry Honors 3 Who Enabled a ‘Fossil Fuel-Free World’ — with an Exxon Twist
- Mindy Kaling Reveals Her Exercise Routine Consists Of a Weekly 20-Mile Walk or Hike
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Depression And Alzheimer's Treatments At A Crossroads
- Enbridge Now Expects $55 Million Fine for Michigan Oil Spill
- Antarctica Ice Loss Tripled in 5 Years, and That’s Raising Sea Level Risks
- Intellectuals vs. The Internet
- ‘We Must Grow This Movement’: Youth Climate Activists Ramp Up the Pressure
Ranking
- South Korean president's party divided over defiant martial law speech
- Why Pat Sajak's Daughter Maggie Is Stepping in for Vanna White on Wheel of Fortune
- Joran van der Sloot, prime suspect in Natalee Holloway's 2005 disappearance, pleads not guilty to extortion charges
- Today’s Climate: August 5, 2010
- Intellectuals vs. The Internet
- Keeping Global Warming to 1.5 Degrees Could Spare Millions Pain of Dengue Fever
- Today’s Climate: August 9, 2010
- Inside a Michigan clinic, patients talk about abortion — and a looming statewide vote
Recommendation
Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
Why Do We Cry?
Montana voters reject so-called 'Born Alive' ballot measure
Her miscarriage left her bleeding profusely. An Ohio ER sent her home to wait
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
A stranger noticed Jackie Briggs' birthmark. It saved her life
Food insecurity is driving women in Africa into sex work, increasing HIV risk
Today’s Climate: August 3, 2010