Current:Home > NewsSenate begins final push to expand Social Security benefits for millions of people -Wealth Legacy Solutions
Senate begins final push to expand Social Security benefits for millions of people
PredictIQ Quantitative Think Tank Center View
Date:2025-03-11 07:29:50
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! (43781)
Related
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Stock market today: Asian shares mostly higher ahead of US price update, OPEC+ meeting
- Fifth group of hostages released after Israel and Hamas agree to extend cease-fire
- The Excerpt podcast: 12 more hostages held by Hamas freed in Gaza
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Three songs for when your flight is delayed
- 1 in 5 children under the age of 14 take melatonin regularly, new study shows
- Ukraine spy chief's wife undergoes treatment for suspected poisoning
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- New York City subway worker dragged under train and killed near Herald Square station
Ranking
- Highlights from Trump’s interview with Time magazine
- Breaking the chains: Creator of comic strip ‘Mutts’ frees his Guard Dog character after decades
- Opposition protesters in Kosovo use flares and tear gas to protest against a war crimes court
- Deion Sanders loses the assistant coach he demoted; Sean Lewis hired at San Diego State
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Jill Biden is bringing a holiday ice rink to the White House for children to skate and play hockey
- Rosalynn and Jimmy Carter bring needed attention to hospice care – and questions
- Don’t have Spotify Wrapped? Here's how to get your Apple Music Replay for 2023
Recommendation
New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
Mark Cuban says he's leaving Shark Tank after one more season
2023 National Christmas Tree lighting ceremony: How to watch the 101st celebration live
Rosalynn and Jimmy Carter bring needed attention to hospice care – and questions
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Will wolverines go extinct? US offers new protections as climate change closes in
Dozens of Republican senators are silent on endorsing Trump
Jennifer Garner Shares Insight Into Daughter Violet’s College Prep