Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -Prosper Capital Insights
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 12:08:48
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! (69)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Residents Fear New Methane Contamination as Pennsylvania Lifts Its Gas-Drilling Ban in the Township of Dimock
- The Best Portable Grill Deals from Amazon Prime Day 2023: Coleman, Cuisinart, and Ninja Starting at $20
- To Save Whales, Should We Stop Eating Lobster?
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- Amazon Prime Day 2023 Samsonite Deals: Save Up to 62% On Luggage Just in Time for Summer Travel
- Why the Feared Wave of Solar Panel Waste May Be Smaller and Arrive Later Than We Expected
- Citing Health and Climate Concerns, Activists Urge HUD To Remove Gas Stoves From Federally Assisted Housing
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Colleen Ballinger's Remaining Miranda Sings Tour Dates Canceled Amid Controversy
Ranking
- Questlove charts 50 years of SNL musical hits (and misses)
- Expedition Retraces a Legendary Explorer’s Travels Through the Once-Pristine Everglades
- Over-the-counter birth control is coming. Here's what to know about cost and coverage
- How to Watch the 2023 Emmy Nominations
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Inflation may be cooling, but the housing market is still too hot for many buyers
- Jennifer Aniston’s Go-To Vital Proteins Collagen Powder and Coffee Creamer Are 30% Off for Prime Day 2023
- One Farmer Set Off a Solar Energy Boom in Rural Minnesota; 10 Years Later, Here’s How It Worked Out
Recommendation
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
West Baltimore Residents, Students Have Mixed Feelings About Water Quality After E. Coli Contamination
Ray Liotta Receives Posthumous 2023 Emmy Nomination Over a Year After His Death
Mosquitoes spread malaria. These researchers want them to fight it instead
Skins Game to make return to Thanksgiving week with a modern look
Amazon Prime Day 2023 Deal: Don't Miss This 30% Off Apple AirPods Discount
Want to Help Reduce PFC Emissions? Recycle Those Cans
A first-class postal economics primer