Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Excel Money Vision
Senate begins final push to expand Social Security benefits for millions of people
PredictIQ Quantitative Think Tank Center View
Date:2025-04-06 17:57:47
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! (77262)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Beyoncé tour sales are off to a smoother start. What does that mean for Ticketmaster?
- How the Ukraine Conflict Looms as a Turning Point in Russia’s Uneasy Energy Relationship with the European Union
- Is it hot in here, or is it just the new jobs numbers?
- Current, future North Carolina governor’s challenge of power
- This doctor wants to prescribe a cure for homelessness
- Amazon Prime Day 2023: Everything You Need to Know to Get the Best Deals
- Inside Clean Energy: Biden’s Climate Plan Shows Net Zero is Now Mainstream
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Ex-Twitter officials reject GOP claims of government collusion
Ranking
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Take 42% Off a Bissell Cordless Floor Cleaner That Replaces a Mop, Bucket, Broom, and Vacuum
- Get $115 Worth of MAC Cosmetics Products for Just $61 Before This Deal Disappears
- Disney CEO Bob Iger extends contract for an additional 2 years, through 2026
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Titanic Sub Missing: Billionaire Passenger’s Stepson Defends Attending Blink-182 Show During Search
- Whitney Cummings Is Pregnant, Expecting First Baby
- Pregnant Rihanna and A$AP Rocky Need to Take a Bow for These Twinning Denim Looks
Recommendation
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Biden calls for passage of a bill to stop 'junk fees' in travel and entertainment
This Jennifer Aniston Editing Error From a 2003 Friends Episode Will Have You Doing a Double Take
Following the U.S., Australia says it will remove Chinese-made surveillance cameras
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Exceptionally rare dinosaur fossils discovered in Maryland
Researchers looking for World War I-era minesweepers in Lake Superior find a ship that sank in 1879
Florida’s Majestic Manatees Are Starving to Death