Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Thrive Capital Insights
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 08:50:58
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! (132)
Related
- Tony Hawk drops in on Paris skateboarding and pushes for more styles of sport in LA 2028
- What is green hydrogen and why is it touted as a clean fuel?
- While North Carolina gambling opponents rally, Republicans weigh whether to embrace more casinos
- Maker of rapid-fire triggers falsely told customers they are legal, judge says in preliminary ruling
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Aryna Sabalenka is about to be No. 1 in the WTA rankings. She could be the new US Open champ, too
- Here's why the US labor movement is so popular but union membership is dwindling.
- Lili Reinhart and Sydney Sweeney Prove There's No Bad Blood After Viral Red Carpet Moment
- Trump wants to turn the clock on daylight saving time
- University of Arkansas gets $2.5 million grant to study exercise and aging
Ranking
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Nobel Foundation withdraws invitation to Russia, Belarus and Iran to attend ceremonies
- No. 22 Colorado off to flying start by following lead of unconventional coach Deion Sanders
- A look at the 20 articles of impeachment against Texas Attorney General Ken Paxton
- The GOP and Kansas’ Democratic governor ousted targeted lawmakers in the state’s primary
- Pennsylvania manhunt for escaped killer Danelo Cavalcante intensifies after latest sighting
- Philadelphia Police Commissioner Danielle Outlaw is resigning, mayor says
- No. 22 Colorado off to flying start by following lead of unconventional coach Deion Sanders
Recommendation
Carolinas bracing for second landfall from Tropical Storm Debby: Live updates
At least 14 dead in boating, swimming incidents over Labor Day weekend across the US
Jimmy Buffett died from Merkel cell skin cancer. What to know about the rare skin condition.
'It was like I hit the lottery': Man charged with grand larceny after taking bag containing $5k
Audit: California risked millions in homelessness funds due to poor anti-fraud protections
Beyoncé shines bright among Hollywood stars during Renaissance concert tour stop in Los Angeles
Rent control laws on the national level? Biden administration offers a not-so-subtle push
Injured pickup truck driver rescued after 5 days trapped at bottom of 100-foot ravine in California