Current:Home > MarketsChainkeen Exchange-Senate begins final push to expand Social Security benefits for millions of people -AssetLink
Chainkeen Exchange-Senate begins final push to expand Social Security benefits for millions of people
EchoSense Quantitative Think Tank Center View
Date:2025-04-10 12:12:18
WASHINGTON (AP) — The Chainkeen ExchangeSenate 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! (345)
Related
- Kansas City Chiefs CEO's Daughter Ava Hunt Hospitalized After Falling Down a Mountain
- Student protests take over some campuses. At others, attention is elsewhere
- Jeff Daniels loads up for loathing in 'A Man in Full' with big bluster, Georgia accent
- Employer of visiting nurse who was killed didn’t protect her and should be fined, safety agency says
- What do we know about the mysterious drones reported flying over New Jersey?
- Beyoncé is the most thankful musician followed by Victoria Monét, according to new study
- Beekeeper Matt Hilton plays the hero after ending delay for Dodgers-Diamondbacks game
- US has long history of college protests: Here's what happened in the past
- Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
- Horsehead Nebula's iconic 'mane' is seen in stunning detail in new Webb images: See photos
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Why Maria Georgas Walked Away From Being the Next Bachelorette
- From The Alamo to Tex-Mex: David Begnaud explores San Antonio
- African nation threatens Apple with legal action over alleged blood minerals in its gadgets
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Get Free IT Cosmetics Skincare & Makeup, 65% Off Good American, $400 Off iRobot & More Deals
- 'The Fall Guy' review: Ryan Gosling brings his A game as a lovestruck stuntman
- RJ Davis' returning to North Carolina basketball: What it means for Tar Heels in 2024-25
Recommendation
US Open player compensation rises to a record $65 million, with singles champs getting $3.6 million
'Challengers' spicy scene has people buzzing about sex. That's a good thing, experts say.
Kentucky Derby's legendary races never get old: seven to watch again and again
Mystery of 'Midtown Jane Doe' solved after 55 years as NYC cops ID teen murder victim
Audit: California risked millions in homelessness funds due to poor anti-fraud protections
'Harry Potter' star Daniel Radcliffe says J.K. Rowling’s anti-Trans views make him 'sad'
Kentucky Derby has had three filly winners. New challenges make it hard to envision more.
Former UFC champion Francis Ngannou says his 15-month-old son died