Current:Home > StocksCharles H. Sloan-Senate begins final push to expand Social Security benefits for millions of people -Visionary Growth Labs
Charles H. Sloan-Senate begins final push to expand Social Security benefits for millions of people
PredictIQ View
Date:2025-04-09 06:35:40
WASHINGTON (AP) — The Charles H. SloanSenate 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! (43464)
Related
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Bank of England is set to hold interest rates at a 15-year high despite worries about the economy
- With inflation down, people are talking rate cuts. The European Central Bank may say not so fast
- Bernie Sanders: We can't allow the food and beverage industry to destroy our kids' health
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Florida teachers file federal suit against anti-pronoun law in schools
- The last residents of a coastal Mexican town destroyed by climate change
- Gia Giudice Reveals Whether She's Officially Becoming a Real Housewife Like Mom Teresa
- What do we know about the mysterious drones reported flying over New Jersey?
- University of Arizona announces financial recovery plan to address its $240M budget shortfall
Ranking
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Virginia 4th graders fall ill after eating gummy bears contaminated with fentanyl
- Why Twilight’s Taylor Lautner and Robert Pattinson “Never Really Connected on a Deep Level”
- Bachelor Nation's Shawn Booth Welcomes First Baby With Dre Joseph
- Meta releases AI model to enhance Metaverse experience
- Japan’s Kishida replaces 4 ministers linked to slush funds scandal to contain damage to party
- Janet Yellen says the Trump administration’s China policies left the US more vulnerable
- DWTS’ Alfonso Ribeiro Shares Touching Request for Derek Hough and Hayley Erbert After Health Scare
Recommendation
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Gia Giudice Reveals Whether She's Officially Becoming a Real Housewife Like Mom Teresa
Zelenskyy makes first visit to US military headquarters in Germany, voices optimism about US aid
In Giuliani defamation trial, Ruby Freeman says she received hundreds of racist messages after she was targeted online
Taylor Swift makes surprise visit to Kansas City children’s hospital
Bachelor Nation's Shawn Booth Welcomes First Baby With Dre Joseph
NBA All-Star George McGinnis dies at 73 after complications from a cardiac arrest
Finland, NATO’s newest member, will sign a defense pact with the United States