Current:Home > MarketsSenate begins final push to expand Social Security benefits for millions of people -AssetLink
Senate begins final push to expand Social Security benefits for millions of people
PredictIQ Quantitative Think Tank Center View
Date:2025-04-09 12:11:26
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! (82335)
Related
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Tennessee, Virginia AGs suing NCAA over NIL-related recruiting rules with Vols under investigation
- Justin Timberlake reveals he's 'been in the studio' with NSYNC following reunion
- Super Bowl prop bets for 2024 include Taylor Swift and Usher's shoes
- The seven biggest college football quarterback competitions include Michigan, Ohio State
- Conspiracy Theories: Why we want to believe when the facts often aren’t there
- Preliminary test crashes indicate the nation’s guardrail system can’t handle heavy electric vehicles
- Why Keke Palmer Might Be Planning to Quit Hollywood
- IOC's decision to separate speed climbing from other disciplines paying off
- Taiwan holds military drills to defend against the threat of a Chinese invasion
Ranking
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Venomous and adorable: The pygmy slow loris, a tiny primate, is melting hearts in Memphis
- Travis Kelce Shares Sweet Message for Taylor Swift Ahead of 2024 Grammys
- Céline Dion announces a documentary about living with stiff person syndrome
- Connie Chiume, Black Panther Actress, Dead at 72: Lupita Nyong'o and More Pay Tribute
- Tampa road rage shooting leaves 4-year-old girl injured, man faces 15 charges
- 'Argylle' review: A great spy comedy premise is buried by secret-agent chaos
- Buying season tickets to go to one game? That’s the Caitlin Clark Effect
Recommendation
51-year-old Andy Macdonald puts on Tony Hawk-approved Olympic skateboard showing
Exclusive: Kris Jenner on her first Super Bowl commercial and future of 'Kardashians' show
From marching bands to megastars: How the Super Bowl halftime show became a global spectacle
Do you know these famous Pisces? 30 celebs with birthdays under the 'intuitive' sign.
The Daily Money: Disney+ wants your dollars
Minnesota man accused of assembling an arsenal to attack police is sentenced to nearly 7 years
Tennessee's fight with NCAA illustrates chaos in college athletics. Everyone is to blame
Student, dad arrested after San Diego school shooting threat; grenades, guns found in home