Current:Home > reviewsSenate begins final push to expand Social Security benefits for millions of people -Nova Finance Academy
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 16:52:00
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! (743)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Every Gut-Wrenching Revelation From Carl Radke and Lindsay Hubbard's Summer House Breakup Convo
- Ryan Reynolds and Blake Lively Are True Lovers at Taylor Swift’s Eras Tour Show
- Buc-ee's largest store location to open in Texas next month: 'Where the legend began'
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Jennie Garth Shares How Body Image Struggles Have Led to Unhealthy Habits
- Donald Trump is convicted of a felony. Here’s how that affects the 2024 presidential race
- Lenny Kravitz opens up about celibacy, not being in a relationship: 'A spiritual thing'
- What do we know about the mysterious drones reported flying over New Jersey?
- Former US senator from Indiana Joe Donnelly to step down as US ambassador to the Vatican
Ranking
- Meta donates $1 million to Trump’s inauguration fund
- Judge to mull overturning Polly Klaas killer Richard Allen Davis' death sentence
- Texas Democrat who joined GOP in supporting ban on gender-affirming care for minors loses primary
- Alabama executes death row inmate Jamie Mills for elderly couple's 2004 murders
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Scientists are testing mRNA vaccines to protect cows and people against bird flu
- Jury finds Chad Daybell guilty on all counts in triple murder case
- Angelina Jolie and Brad Pitt’s Daughter Shiloh Officially Files to Change Name
Recommendation
'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
Officer who arrested Scottie Scheffler: 'Yes, the department has us buying freaking $80 pants'
Dakota Fanning Shares Reason She and Sister Elle Fanning Aren't Competitive About Movie Roles
Chad Daybell guilty of murdering wife, two stepchildren in 'doomsday' case spanning years
Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
Bebe Rexha opens up about suffering PCOS cyst burst: 'The pain was so bad'
Water main break disrupts businesses, tourist attractions in downtown Atlanta, other areas of city
Ledecky says faith in Olympic anti-doping system at ‘all-time low’ after Chinese swimming case