Current:Home > ScamsSurpassing Quant Think Tank Center|Senate begins final push to expand Social Security benefits for millions of people -MacroWatch
Surpassing Quant Think Tank Center|Senate begins final push to expand Social Security benefits for millions of people
PredictIQ View
Date:2025-04-09 12:39:58
WASHINGTON (AP) — The Surpassing Quant 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! (93)
Related
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Richard Simmons’ Cause of Death Under Investigation
- Small plane crashes into river on Maryland’s Eastern Shore, officials say
- CONMEBOL blames Hard Rock Stadium for unruly fans, ugly scenes before Copa America final
- Don't let hackers fool you with a 'scam
- Republican convention focuses on immigration a day after a bandaged Trump makes triumphant entrance
- YouTuber Billy LeBlanc's Girlfriend Natalie Clark Dies From Bacterial Infection After Eating Raw Oysters
- Amazon's Prime Day Deals on Amazon Devices: Fire Sticks for $24, Fire Tablets for $74 & More
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Scientists have confirmed a cave on the moon that could be used to shelter future explorers
Ranking
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Christina Hall's Husband Josh Hall Files for Divorce After 2 Years of Marriage
- Photographer Doug Mills on capturing bullet during Trump's rally assassination attempt
- How many points did Bronny James score tonight? Lakers Summer League box score
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Why pasta salad isn't always healthy, even with all those vegetables
- Dance Moms' Christi Lukasiak Arrested for DUI
- Prime Day 2024 Deal: Save 30% on Laneige Products Used by Sydney Sweeney, Alix Earle, Hannah Brown & More
Recommendation
'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
Albert the alligator’s owner sues New York state agency in effort to be reunited with seized pet
Tornado hits Des Moines, weather service confirms. No injuries reported
North Korean leader's sister hints at resuming flying trash balloons toward South Korea
2025 'Doomsday Clock': This is how close we are to self
James Webb telescope photos show the Penguin and Egg galaxies in greater detail
Barstool owner rescued by Coast Guard after losing control of boat off Nantucket
Details emerge about deaths of dad and daughter from Wisconsin and 3rd hiker who died in Utah park