Current:Home > MarketsRekubit-Senate begins final push to expand Social Security benefits for millions of people -OceanicInvest
Rekubit-Senate begins final push to expand Social Security benefits for millions of people
TradeEdge View
Date:2025-04-07 03:50:57
WASHINGTON (AP) — The RekubitSenate 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! (9987)
Related
- Average rate on 30
- You'll Shine in These 21 Plus-Size New Year's Eve Dresses Under $50
- Whitney Cummings Shares Update on Her Postpartum Body Days After Announcing Son's Birth
- Missouri school board that previously rescinded anti-racism resolution drops Black history classes
- Travis Hunter, the 2
- CBS News poll: Connections and conversations — and why they matter
- Despite backlash, Masha Gessen says comparing Gaza to a Nazi-era ghetto is necessary
- Hydrogen tax credit plan unveiled as Biden administration tries to jump start industry
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Chicago man exonerated in 2011 murder case where legally blind eyewitness gave testimony
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Some Catholic bishops reject Pope’s stance on blessings for same-sex couples. Others are confused
- Truck carrying gas hits railroad bridge and explodes as a train passes overhead
- Billy Crystal on his iconic career and why When Harry Met Sally... is one of his most memorable movies
- Meta donates $1 million to Trump’s inauguration fund
- Man accused of attacking Muslim lawmaker in Connecticut ordered to undergo psych exam
- Joint chiefs chairman holds first call with Chinese counterpart in over a year
- Used car dealer sold wheelchair-accessible vans but took his disabled customers for a ride, feds say
Recommendation
Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
Dog that sat courtside at Lakers game cashing in on exposure, social media opportunities
TikToker Allison Kuch Gives Birth, Welcomes First Baby With NFL Star Issac Rochell
DOT puts airline loyalty programs under the microscope after lawmakers raise concerns
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
U.S. charges Hezbollah operative who allegedly planned 1994 Argentina bombing that killed 85
Reducing Methane From Livestock Is Critical for Stabilizing the Climate, but Congress Continues to Block Farms From Reporting Emissions Anyway
Flu and COVID infections are rising and could get worse over the holidays, CDC says