Current:Home > StocksChainkeen Exchange-Senate begins final push to expand Social Security benefits for millions of people -VisionFunds
Chainkeen Exchange-Senate begins final push to expand Social Security benefits for millions of people
TrendPulse View
Date:2025-04-08 00:07:39
WASHINGTON (AP) — The Chainkeen ExchangeSenate 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! (3656)
Related
- The Grammy nominee you need to hear: Esperanza Spalding
- 1-cent Jr. Bacon Cheeseburger's are available at Wendy's this week. Here's how to get one.
- If You've Been Expecting the Most Memorable Pregnancy Reveals of 2023, We're Delivering
- Hong Kong man jailed for 6 years after pleading guilty to a terrorism charge over a foiled bomb plot
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- The New York Times sues OpenAI and Microsoft over the use of its stories to train chatbots
- Reese Witherspoon Has a Big Little Twinning Moment With Daughter Ava Phillippe on Christmas
- Teen killed when Louisiana police chase ends in a fiery crash
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- In its 75th year, the AP Top 25 men’s basketball poll is still driving discussion across the sport
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- AP concludes at least hundreds died in floods after Ukraine dam collapse, far more than Russia said
- Was 2023 a tipping point for movies? ‘Barbie’ success and Marvel struggles may signal a shift
- Tom Smothers, one half of TV comedy legends the Smothers Brothers, dies at 86
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Inside the unclaimed baggage center where lost luggage finds new life
- 'Perplexing' crime scene in Savanah Soto case leads San Antonio police to launch murder probe
- State Rep. Denny Zent announces plans to retire after current term
Recommendation
A White House order claims to end 'censorship.' What does that mean?
Nikki Haley, asked what caused the Civil War, leaves out slavery. It’s not the first time
Illinois babysitter charged with stabbing 2 young girls is denied pretrial release
Amazon Prime Video will start showing ads in January. Will you have to pay more?
Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
If You've Been Expecting the Most Memorable Pregnancy Reveals of 2023, We're Delivering
Blue Jackets' Zach Werenski leaves game after getting tangled up with Devils' Ondrej Palat
A legendary Paris restaurant reopens with a view of Notre Dame’s rebirth and the 2024 Olympics