Current:Home > FinanceFastexy Exchange|Senate begins final push to expand Social Security benefits for millions of people -Wealth Evolution Experts
Fastexy Exchange|Senate begins final push to expand Social Security benefits for millions of people
Charles Langston View
Date:2025-04-06 01:17:01
WASHINGTON (AP) — The Fastexy 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! (1482)
Related
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Dr. Fauci was hospitalized with West Nile virus and is now recovering at home, a spokesperson says
- Cheese has plenty of protein. But it's not 100% good for you.
- Sky's Angel Reese grabs 20 rebounds for second straight game, joins Shaq in record books
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Union rep says West Virginia governor late on paying worker health insurance bills, despite denials
- Jannik Sinner parts way with team members ahead of US Open after positive doping tests
- Judge Mathis' wife Linda files for divorce from reality TV judge after 39 years together
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Coal Baron a No-Show in Alabama Courtroom as Abandoned Plant Continues to Pollute Neighborhoods
Ranking
- Trump's 'stop
- Zayn Malik Shows Off Full Beard and Hair Transformation in New Video
- Zayn Malik Shows Off Full Beard and Hair Transformation in New Video
- Rare wild cat spotted in Vermont for the first time in six years: Watch video
- Meta releases AI model to enhance Metaverse experience
- You Won’t Believe These Designer Michael Kors Bags Are on Sale Starting at $29 and Under $100
- Jennifer Lopez Returns to Social Media After Filing for Divorce From Ben Affleck
- After millions lose access to internet subsidy, FCC moves to fill connectivity gaps
Recommendation
Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
Senators demand the USDA fix its backlog of food distribution to Native American tribes
Will Messi play before end of MLS season? Inter Miami star's injury update
Oklahoma teachers were told to use the Bible. There’s resistance from schools as students return
Questlove charts 50 years of SNL musical hits (and misses)
New York temporarily barred from taking action against groups for promoting abortion pill ‘reversal’
Judge rules Breonna Taylor’s boyfriend caused her death, dismisses some charges against ex-officers
Watch: Young fan beams after getting Jose Altuve's home run bat