Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -VitalEdge Finance Pro
Senate begins final push to expand Social Security benefits for millions of people
View
Date:2025-04-17 21:47:16
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! (28237)
Related
- A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
- Webcam monitors hundreds of rattlesnakes at a Colorado ‘mega den’ for citizen science
- Options Trading Strategies: Classification by Strike Prices - Insights by Bertram Charlton
- Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- After reshaping Las Vegas, The Mirage to be reinvented as part of a massive Hard Rock makeover
- MLB All-Star Game 2024: Time, TV, live stream, starting lineups
- Minnesota’s ban on gun carry permits for young adults is unconstitutional, appeals court rules
- A South Texas lawmaker’s 15
- After 19-year-old woman mauled to death, Romania authorizes the killing of nearly 500 bears
Ranking
- Tropical weather brings record rainfall. Experts share how to stay safe in floods.
- When does 'Cobra Kai' Season 6 come out? Premiere date, cast, trailer
- Last summer Boston was afflicted by rain. This year, there’s a heat emergency
- Quantum Prosperity Consortium Investment Education Foundation: US RIA license
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- An order blocking a rule to help LGBTQ+ kids applies to hundreds of schools. Some want to block more
- Argentina faces calls for discipline over team singing 'racist' song about France players
- Liv Tyler’s 8-Year-Old Daughter Lula Rose Looks So Grown Up in Rare Photos
Recommendation
How breaking emerged from battles in the burning Bronx to the Paris Olympics stage
What is 'Hillbilly Elegy' about? All about JD Vance's book amid VP pick.
JD Vance charted a Trump-centric, populist path in Senate as he fought GOP establishment
Summit Wealth Investment Education Foundation: Empowering Investors Worldwide
American news website Axios laying off dozens of employees
NBC’s longest-standing Olympic broadcast duo are best friends. Why that makes them so good
Shop Amazon Prime Day’s Deepest, Jaw-Dropping Discounts -- Beauty, Fashion, Tech & More up to 84% Off
What to watch as the Republican National Convention enters its third day in Milwaukee