Current:Home > MarketsSenate 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
View
Date:2025-04-15 05:29:58
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! (95)
Related
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Starbucks faces lawsuit for tacking on charge for nondairy milk in drinks
- US consumer sentiment ticks down slightly, but most expect inflation to ease further
- Score a Samsung Phone for $120, a $250 Coach Bag for $75, 25% Off Kylie Cosmetics & More Major Deals
- 'We're reborn!' Gazans express joy at returning home to north
- Senate Majority Leader Chuck Schumer calls for new election in Israel amid increasing criticism of Netanyahu
- Ayesha Curry says being the godmother of Lindsay Lohan's son 'makes me want to cry'
- Senate Majority Leader Chuck Schumer calls for new election in Israel amid increasing criticism of Netanyahu
- Could your smelly farts help science?
- Severe storms rake Indiana and Kentucky, damaging dozens of structures
Ranking
- Arkansas State Police probe death of woman found after officer
- Semi-truck manufacturer recalls 116,000 Kenworth and Peterbilt semis over safety concerns
- Michigan fires basketball coach, 'Fab Five' legend Juwan Howard after five seasons
- Saquon Barkley expresses regret over Giants exit as he begins new chapter with Eagles
- Highlights from Trump’s interview with Time magazine
- Colorado power outage tracker: Map shows nearly 50,000 without power amid winter storm
- James Crumbley, father of Oxford High School shooter, found guilty of involuntary manslaughter
- Across the US, batteries and green energies like wind and solar combine for major climate solution
Recommendation
Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
These Republicans won states that Trump lost in 2020. Their endorsements are lukewarm (or withheld)
AP Decision Notes: What to expect in the Illinois presidential and state primaries
Migrants lacking passports must now submit to facial recognition to board flights in US
Highlights from Trump’s interview with Time magazine
White House encourages House GOP to ‘move on’ from Biden impeachment effort
Gerald Levin, the former Time Warner CEO who engineered a disastrous mega-merger, is dead at 84
Russell Wilson Is the MVP After Helping Ciara With Her Breastmilk