Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Balance Wealth Academy
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-16 21:46:32
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 White House is cracking down on overdraft fees
- The Sweet Detail Justin Bieber Chose for Baby Jack's Debut With Hailey Bieber
- Former England national soccer coach Sven-Goran Eriksson dies at 76
- Latino voting rights group calls for investigation after Texas authorities search homes
- South Korean president's party divided over defiant martial law speech
- In boosting clean energy in Minnesota, Walz lays foundation for climate influence if Harris wins
- Yes, petroleum jelly is a good moisturizer, but beware before you use it on your face
- Blake Lively Celebrates Birthday With Taylor Swift and More Stars at Singer's Home
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Kroger and Albertsons hope to merge but must face a skeptical US government in court first
Ranking
- Arkansas State Police probe death of woman found after officer
- Five takeaways from NASCAR race at Daytona, including Harrison Burton's stunning win
- The shooting death of a 16-year-old girl by police is among a spate that’s upset Anchorage residents
- Hilary Swank Shares Rare Glimpse of Her Twins During Family Vacation
- A South Texas lawmaker’s 15
- 'The Crow' original soundtrack was iconic. This new one could be, too.
- Maya Moore has jersey number retired by Minnesota Lynx in emotional ceremony
- Umpire Nick Mahrley carted off after broken bat hits his neck during Yankees-Rockies game
Recommendation
Travis Hunter, the 2
Maya Moore has jersey number retired by Minnesota Lynx in emotional ceremony
Fair-goers scorched by heartland heat wave take refuge under misters as some schools let out early
Search continues for woman missing after Colorado River flash flood at Grand Canyon National Park
What do we know about the mysterious drones reported flying over New Jersey?
Katherine Schwarzenegger Reveals What Daughter Eloise Demands From Chris Pratt
US District Court Throws Out Federal Agency’s Assessment Allowing More Drilling for Fossil Fuels in the Gulf of Mexico
Georgia sheriff's deputy dies days after he was shot during search, sheriff's office says