Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -NextFrontier Finance
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 20:14:11
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! (72)
Related
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Lindsay Lohan and Jamie Lee Curtis Share Update on Freaky Friday Sequel
- Lessons from Germany to help solve the U.S. medical debt crisis
- Popular COVID FAQs in 2022: Outdoor risks, boosters, 1-way masking, faint test lines
- Military service academies see drop in reported sexual assaults after alarming surge
- Colorado Anti-Fracking Activists Fall Short in Ballot Efforts
- UN Climate Summit Opens with Growing Concern About ‘Laggard’ Countries
- Today’s Climate: September 15, 2010
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Lily-Rose Depp Confirms Months-Long Romance With Crush 070 Shake
Ranking
- Louvre will undergo expansion and restoration project, Macron says
- The Bear's Jeremy Allen White and Wife Addison Timlin Break Up After 3 Years of Marriage
- Today’s Climate: September 20, 2010
- J. Harrison Ghee, Alex Newell become first openly nonbinary Tony winners for acting
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Judge Delays Injunction Ruling as Native American Pipeline Protest Grows
- Target Has the Best Denim Short Deals for the Summer Starting at $12
- Transcript: Robert Costa on Face the Nation, June 11, 2023
Recommendation
Could your smelly farts help science?
Lessons from Germany to help solve the U.S. medical debt crisis
American life expectancy is now at its lowest in nearly two decades
Psychedelic drugs may launch a new era in psychiatric treatment, brain scientists say
Meet first time Grammy nominee Charley Crockett
Bloomberg Is a Climate Leader. So Why Aren’t Activists Excited About a Run for President?
6 shot in crowded Houston parking lot after disturbance in nightclub, police say
Trump arrives in Miami for Tuesday's arraignment on federal charges