Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -Triumph Financial Guides
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-12 16:54:46
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! (979)
Related
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Fantasy football sizzlers, fizzlers: Return of Raheem Must-start
- Man trapped in vehicle rescued by strangers in New Hampshire woods
- How Kelly Rizzo's Full House of Support Helped Her After Husband Bob Saget's Death
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- California fast food workers will earn at least $20 per hour. How's that minimum wage compare?
- Idaho student murders suspect Bryan Kohberger followed victims on Instagram, says family
- 5 people shot, including 2 juveniles, in Boston's Dorchester neighborhood
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- 2 charged with murder following death of 1-year-old at day care
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- A homeless man living on national forest land was shot by federal police. He's now suing
- Blue Zones: Unlocking the secrets to living longer, healthier lives | 5 Things podcast
- Taiwan says 103 Chinese warplanes flew toward the island in a new daily high in recent times
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- For Shakhtar Donetsk in the Champions League, representing Ukraine is a duty to the country
- 32 things we learned in NFL Week 2: Giants' massive comeback stands above rest
- A woman in England says she's living in a sea of maggots in her new home amid trash bin battle
Recommendation
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
Seahawks receiver Tyler Lockett, with game-winning catch, again shows his quiet greatness
In Miami, It’s No Coincidence Marginalized Neighborhoods Are Hotter
Just two doctors serve this small Alabama town. What's next when they want to retire?
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
Chevron says Australian LNG plant is back to full production after 3 days at 80% output
A look at the prisoners Iran and US have identified previously in an exchange
'The Care and Keeping of You,' American Girl's guide to puberty, turns 25