Current:Home > MarketsSenate 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:2025-04-16 17:17:19
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! (76)
Related
- NCAA President Charlie Baker would be 'shocked' if women's tournament revenue units isn't passed
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Krispy Kreme's 'Day of the Dozens' offers 12 free doughnuts with purchase: When to get the deal
- PACCAR recalls over 220,000 trucks for safety system issue: See affected models
- 'Meet me at the gate': Watch as widow scatters husband's ashes, BASE jumps into canyon
- Horoscopes Today, December 11, 2024
- Arizona city sues federal government over PFAS contamination at Air Force base
- Aaron Taylor
- IOC's decision to separate speed climbing from other disciplines paying off
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Ranking
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Woman fired from Little India massage parlour arrested for smashing store's glass door
- We can't get excited about 'Kraven the Hunter.' Don't blame superhero fatigue.
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Stock market today: Asian shares retreat, tracking Wall St decline as price data disappoints
- 'Unimaginable situation': South Korea endures fallout from martial law effort
- 'We are all angry': Syrian doctor describes bodies from prisons showing torture
Recommendation
Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
Fatal Hougang stabbing: Victim was mum of 3, moved to Singapore to provide for family
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
Man who jumped a desk to attack a Nevada judge in the courtroom is sentenced
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
Dick Van Dyke credits neighbors with saving his life and home during Malibu fire
We can't get excited about 'Kraven the Hunter.' Don't blame superhero fatigue.
Jim Carrey Reveals Money Inspired His Return to Acting in Candid Paycheck Confession