Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -Blueprint Money Mastery
Senate begins final push to expand Social Security benefits for millions of people
PredictIQ View
Date:2025-04-10 08:18:21
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! (64421)
Related
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Don't call it 'vegan' and other tips from hospitals to get people to eat less meat
- Wholesale inflation in US edged up in July from low levels
- Texas judge says no quick ruling expected over GOP efforts to toss 2022 election losses near Houston
- The White House is cracking down on overdraft fees
- Poland to send 10,000 soldiers to Belarus border as tension rises amid Russia's war in Ukraine
- A college football player knew his teammate donated plasma to afford school. So, he gave him his scholarship.
- Social Security COLA 2024 estimate didn't increase with CPI report. Seniors still struggle.
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Navigating the Market Whirlwind: Mark Williams' Expertise in Swing Operations
Ranking
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Police detain 18 people for storming pitch at Club América-Nashville SC Leagues Cup match
- Dog finds woman in cornfield, 2 days after she disappeared in Michigan crash
- Fast-moving Hawaii fires will take a heavy toll on the state’s environment
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- St. Louis activists praise Biden’s support for compensation over Manhattan Project contamination
- White supremacist accused of threatening jury, witnesses in trial of Pittsburgh synagogue gunman
- AP Week in Pictures: North America
Recommendation
Military service academies see drop in reported sexual assaults after alarming surge
Iconic Lahaina banyan tree threatened by fires: What we know about Maui's historic landmark
Nick Kyrgios pulls out of US Open, missing all four Grand Slam events in 2023
Iran transfers 5 Iranian-Americans from prison to house arrest in step toward deal for full release
A South Texas lawmaker’s 15
In Oklahoma, Native American women struggle to access emergency contraception
Toyota recalls: Toyota Tundra, Hybrid pickups recalled for fuel leak, fire concerns
Beer in Britain's pubs just got cheaper, thanks to changes in the alcohol tax