Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -OceanicInvest
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-19 23:51:37
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! (486)
Related
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hash Out
- 2024 lottery winners: How many people have won Mega Millions, Powerball jackpots?
- Everything to Know About Allison Holker’s Boyfriend Adam Edmunds
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- A Texas man is sentenced for kicking a cat that prosecutors say was later set on fire
- Madonna shocks at star-studded Luar NYFW show with Offset modeling, Ice Spice in front row
- Kamala Harris gives abortion rights advocates the debate answer they’ve longed for in Philadelphia
- $73.5M beach replenishment project starts in January at Jersey Shore
- Apple announces new iPhone 16: What to know about the new models, colors and release date
Ranking
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Judge orders former NFL star Adrian Peterson to turn over assets to pay $12M debt
- WNBA players and union speak out against commissioner after she failed to condemn fan racism
- USMNT introduces new head coach Mauricio Pochettino, who will lead team to 2026 World Cup
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Univision news anchor Jorge Ramos announces departure after 40-year tenure
- Apple announces new iPhone 16: What to know about the new models, colors and release date
- Taylor Swift endorses Kamala Harris. It's a big deal – even if you don't think so.
Recommendation
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Horoscopes Today, September 10, 2024
How to Watch the 2024 Emmys and Live From E!
Where does Notre Dame go from here? What about Colorado? College Football Fix discusses and previews Week 3
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
'Rocket fuel' in Gulf may propel Francine closer to hurricane status: Live updates
Where does Notre Dame go from here? What about Colorado? College Football Fix discusses and previews Week 3
Las Vegas man pleads guilty in lucrative telemarketing scam