Current:Home > MyTrendPulse|Senate begins final push to expand Social Security benefits for millions of people -Ascend Finance Compass
TrendPulse|Senate begins final push to expand Social Security benefits for millions of people
TradeEdge View
Date:2025-04-10 14:23:10
WASHINGTON (AP) — The TrendPulseSenate 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! (756)
Related
- 2025 'Doomsday Clock': This is how close we are to self
- Jennifer Lopez Says Twins Max and Emme Have Started Challenging Her Choices
- A new Ford patent imagines a future in which self-driving cars repossess themselves
- A “Tribute” to The Hunger Games: The Ultimate Fan Gift Guide
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- The West Sizzled in a November Heat Wave and Snow Drought
- The Biden Administration’s Embrace of Environmental Justice Has Made Wary Activists Willing to Believe
- Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy
- Louvre will undergo expansion and restoration project, Macron says
- Baltimore Aspires to ‘Zero Waste’ But Recycles Only a Tiny Fraction of its Residential Plastic
Ranking
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- China is building six times more new coal plants than other countries, report finds
- Microsoft's new AI chatbot has been saying some 'crazy and unhinged things'
- The Most Unforgettable Red Carpet Moments From BET Awards
- Louvre will undergo expansion and restoration project, Macron says
- Warming Trends: Swiping Right and Left for the Planet, Education as Climate Solution and Why It Might Be Hard to Find a Christmas Tree
- Tesla factory produces Cybertruck nearly 4 years after Elon Musk unveiled it
- Thousands of Amazon Shoppers Love These Comfortable Bralettes— Get the Set on Sale for Up to 50% Off
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
As Russia’s War In Ukraine Disrupts Food Production, Experts Question the Expanding Use of Cropland for Biofuels
Man, woman charged with kidnapping, holding woman captive for weeks in Texas
Fox News stands in legal peril. It says defamation loss would harm all media
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
Heat wave sweeping across U.S. strains power grid: People weren't ready for this heat
Miranda Lambert paused a concert to call out fans taking selfies. An influencer says she was one of them.
Elevate Your Wardrobe With the Top 11 Trending Amazon Styles Right Now