Current:Home > InvestSenate begins final push to expand Social Security benefits for millions of people -Financium
Senate begins final push to expand Social Security benefits for millions of people
Surpassing View
Date:2025-04-06 10:37:13
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! (242)
Related
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- What is the best protein powder? Here's what a dietitian says about the 'healthiest' kind.
- The Daily Money: Telecommutes are getting longer
- The IRS launches Direct File, a pilot program for free online tax filing available in 12 states
- Why members of two of EPA's influential science advisory committees were let go
- NAACP urges Black student-athletes to reconsider Florida colleges after state slashed DEI programs
- Special counsel Hur is set to testify before a House committee over handling of Biden documents case
- Nominee to Maryland elections board questioned after predecessor resigned amid Capitol riot charges
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Donald Trump wants New York hush money trial delayed until Supreme Court rules on immunity claims
Ranking
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- West Virginia governor vies for Manchin’s US Senate seat, while moonlighting as girls hoops coach
- Minnesota Eyes Permitting Reform for Clean Energy Amid Gridlock in Congress
- US inflation likely stayed elevated last month as Federal Reserve looks toward eventual rate cuts
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- Social Security benefits could give you an extra $900 per month. Are you eligible?
- Cowboys star QB Dak Prescott sues woman over alleged $100 million extortion plot
- Una inundación catastrófica en la costa central de California profundizó la crisis de los ya marginados trabajadores agrícolas indígenas
Recommendation
The White House is cracking down on overdraft fees
Kentucky House passes bill meant to crack down on electronic cigarette sales to minors
Some athletes swear by smelling salts. Here's the truth about them.
Boxing icon Muhammad Ali to be inducted into 2024 WWE Hall of Fame? Here's why.
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
Blue dragons in Texas? Creatures wash up on Texas beaches, officials warn not to touch
Nigeria police say 15 school children were kidnapped, days after armed gunmen abducted nearly 300
F1 Arcade set to open first U.S. location in Boston; Washington, D.C. to follow