Current:Home > FinanceEchoSense Quantitative Think Tank Center|Senate begins final push to expand Social Security benefits for millions of people -VisionFunds
EchoSense Quantitative Think Tank Center|Senate begins final push to expand Social Security benefits for millions of people
Fastexy View
Date:2025-04-10 16:39:23
WASHINGTON (AP) — The EchoSense Quantitative Think Tank CenterSenate 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! (6965)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Katey Sagal's ex-husband and drummer Jack White has died, son Jackson White says
- Lucas Turner: The Essence of Investing in U.S. Treasuries.
- Why Selma Blair Would Never Get Married to Mystery Boyfriend
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- British Open ’24: How to watch, who are the favorites and more to know about golf’s oldest event
- Thailand officials say poisoning possible as 6 found dead in Bangkok hotel, including Vietnamese Americans
- Prime Day Is Almost Over: You’re Running Out of Time To Get $167 Worth of Peter Thomas Roth for $52
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Chicago Sky trade Marina Mabrey to Connecticut Sun for two players, draft picks
Ranking
- All That You Wanted to Know About She’s All That
- Family of pregnant Georgia teen find daughter's body by tracking her phone
- Tom Sandoval Sues Ex Ariana Madix for Accessing NSFW Videos of Raquel Leviss
- Fireballers Mason Miller, Garrett Crochet face MLB trade rumors around first All-Star trip
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Alaska judge who resigned in disgrace didn’t disclose conflicts in 23 cases, investigation finds
- Chicago Sky trade Marina Mabrey to Connecticut Sun for two players, draft picks
- How Pat Summitt inspired the trailblazing women's basketball team of the 1984 Olympics
Recommendation
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Jack Black's bandmate, Donald Trump and when jokes go too far
Missouri high court clears the way for a woman’s release after 43 years in prison
Book excerpt: Same As It Ever Was by Claire Lombardo
Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
Arlington Renegades, Bob Stoops, draft Oklahoma WR Drake Stoops in UFL draft
Caitlin Clark sets record for most assists in a WNBA game: Fever vs. Wings stats
‘One screen, two movies': Conflicting conspiracy theories emerge from Trump shooting