Current:Home > MarketsNovaQuant-Senate begins final push to expand Social Security benefits for millions of people -MacroWatch
NovaQuant-Senate begins final push to expand Social Security benefits for millions of people
PredictIQ View
Date:2025-04-07 00:56:14
WASHINGTON (AP) — The NovaQuantSenate 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! (55)
Related
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Free babysitting on Broadway? This nonprofit helps parents get to the theater
- Christina Hall and Tarek El Moussa Celebrate Daughter Taylor Becoming a Teenager
- Horoscopes Today, September 22, 2023
- What to watch: O Jolie night
- How Jessica Alba's Mexican Heritage Has Inspired Her Approach to Parenting
- No. 3 Florida State ends Death Valley drought with defeat of No. 23 Clemson
- Biden to open embassies in Cook Islands, Niue as he welcomes Pacific leaders for Washington summit
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Summer 2023 ends: Hotter summers are coming and could bring outdoor work bans, bumpy roads
Ranking
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- California governor vetoes bill requiring custody courts to weigh affirmation of gender identity
- Teen charged with arson after fireworks started a fire that burned 28 acres
- With temporary status for Venezuelans, the Biden administration turns to a familiar tool
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- A Ukrainian train is a lifeline connecting the nation’s capital with the front line
- AP PHOTOS: King Charles and Camilla share moments both regal and ordinary on landmark trip to France
- Indianapolis police wound 2 robbery suspects after 1 suspect fires at pursuing officers
Recommendation
Why members of two of EPA's influential science advisory committees were let go
5 hospitalized in home explosion that left house 'heavily damaged'
1 in 4 inmate deaths happens in the same federal prison. Why?
May These 20 Secrets About The Hunger Games Be Ever in Your Favor
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
New York Civil Liberties Union sues NYPD for records on transgender sensitivity training
California governor vetoes bill requiring custody courts to weigh affirmation of gender identity
Shimano recalls 680,000 bicycle cranksets after reports of bone fractures and lacerations