Current:Home > FinanceSenate begins final push to expand Social Security benefits for millions of people -ProfitClass
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-27 20:20:34
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! (86)
Related
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Powell hints Fed still on course to cut rates three times in 2024 despite inflation uptick
- 'Parasyte: The Grey': Premiere date, cast, where to watch creepy new zombie K-Drama
- Hot Topic shoppers' personal information accessed in 2023 data breach, company announces
- Residents in Alaska capital clean up swamped homes after an ice dam burst and unleashed a flood
- Owner of Baffert-trained Muth sues Churchill Downs seeking to allow horse to run in Kentucky Derby
- South Carolina women's basketball Final Four history: How many titles have Gamecocks won?
- Suits’ Wendell Pierce Shares This Advice for the Cast of Upcoming Spinoff
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Black Residents Want This Company Gone, but Will Alabama’s Environmental Agency Grant It a New Permit?
Ranking
- Bodycam footage shows high
- Body found by hunter in Missouri in 1978 identified as missing Iowa girl
- LSU star Angel Reese declares for WNBA draft
- FAA investigating possible close call between Southwest flight and air traffic control tower
- NCAA hits former Michigan coach Jim Harbaugh with suspension, show-cause for recruiting violations
- Tish Cyrus' Husband Dominic Purcell Shares Message About Nonsense Amid Rumored Drama
- Nicole Richie and Joel Madden's teen children Harlow and Sparrow make red carpet debut
- Federal officials send resources to Mississippi capital to curb gun violence
Recommendation
'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
Tom Felton Reveals Which Scene He Wishes Made It Into Harry Potter
Jonathan Majors' motion to dismiss assault, harassment conviction rejected by judge
Largest fresh egg producer in U.S. finds bird flu in chickens at Texas and Michigan plants
What to watch: O Jolie night
Playboy Alum Holly Madison Accuses Crystal Hefner of Copying Her Book
New York adulterers could get tossed out of house but not thrown in jail under newly passed bill
Women’s Final Four ticket on resale market selling for average of $2,300, twice as much as for men