Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -ClearPath Finance
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-18 02:04:17
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! (72)
Related
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Olympic gymnastics live updates: Simone Biles, USA win gold medal in team final
- Arizona voters to decide congressional primaries, fate of metro Phoenix election official
- 2 youth detention center escapees are captured in Maine, Massachusetts
- Trump's 'stop
- Boeing names new CEO as it posts a loss of more than $1.4 billion in second quarter
- Louisiana cleaning up oil spill in Lafourche Parish
- What's on board Atlas V? ULA rocket launches on classified Space Force mission
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- How Rugby Star Ilona Maher Became a Body Positivity Queen at the Olympics
Ranking
- Sam Taylor
- Texas’ floating Rio Grande barrier can stay for now, court rules as larger legal battle persists
- Coco Gauff loses an argument with the chair umpire and a match to Donna Vekic at the Paris Olympics
- Quick! Banana Republic Factory’s Extra 40% Sale Won’t Last Long, Score Chic Classics Starting at $11
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- 4 Suspects Arrested and Charged With Murder in Shooting Death of Rapper Julio Foolio
- Hit with falling sales, McDonald's extends popular $5 meal deal, eyes big new burger
- Anna Netrebko to sing at Palm Beach Opera gala in first US appearance since 2019
Recommendation
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Boar's Head recall expands to 7 million pounds of deli meat
When does Simone Biles compete next? Olympics gymnastics schedule for all-around final
Kathie Lee Gifford Hospitalized With Fractured Pelvis
The White House is cracking down on overdraft fees
Families seek answers after inmates’ bodies returned without internal organs
Boar's Head recall expands to 7 million pounds of deli meat
Team USA Olympic athletes are able to mimic home at their own training facility in France