Current:Home > NewsNovaQuant Quantitative Think Tank Center:Senate begins final push to expand Social Security benefits for millions of people -Wealth Evolution Experts
NovaQuant Quantitative Think Tank Center:Senate begins final push to expand Social Security benefits for millions of people
Charles Langston View
Date:2025-04-08 03:29:18
WASHINGTON (AP) — The NovaQuant Quantitative Think Tank CenterSenate 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! (546)
Related
- Intel's stock did something it hasn't done since 2022
- Bronny James focusing on NBA 'dream,' not playing with dad LeBron
- Camille Kostek and Rob Gronkowski Privately Broke Up and Got Back Together
- Horoscopes Today, May 15, 2024
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- US cites ‘misuse’ of AI by China and others in closed-door bilateral talks
- Like a Caitlin Clark 3-pointer, betting on women’s sports is soaring
- Horoscopes Today, May 15, 2024
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Rob McElhenney Shares Why He Believes Friend Ryan Reynolds Isn't Human
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- Huge billboard in Mumbai toppled by storm, killing more than a dozen people in India's financial capital
- Angela Bassett mourns loss of '9-1-1' crew member who died in crash: 'We're all rocked by it'
- Future of Texas’ migrant-blocking buoys may hinge on whether the Rio Grande is ‘navigable’
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- Social Security's 2025 COLA estimate inches up but Medicare Part B premium may wipe it out
- Raccoon on field stops play in MLS game. How stadium workers corralled and safely released it.
- Save Up to 70% on Gap Factory's Already Reduced Styles, Including $59 Vegan Leather Leggings for $11
Recommendation
Nevada attorney general revives 2020 fake electors case
3 dead after small plane crashes in Tennessee
Florida deputy’s killing of Black airman renews debate on police killings and race
US prisoners are being assigned dangerous jobs. But what happens if they are hurt or killed?
Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
‘American Idol’ alum Jordin Sparks to perform national anthem ahead of 108th Indianapolis 500
Staff member dies after assault by juvenile at Iowa youth facility
Air quality in several US states threatened by growing Canada wildfires: See map