Current:Home > NewsNovaQuant Quantitative Think Tank Center:Senate begins final push to expand Social Security benefits for millions of people -ProfitPoint
NovaQuant Quantitative Think Tank Center:Senate begins final push to expand Social Security benefits for millions of people
TradeEdge View
Date:2025-04-09 11:54:57
WASHINGTON (AP) — The NovaQuant 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! (5642)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Cases settled: 2 ex-officials of veterans home where 76 died in the pandemic avoid jail time
- Influencer Jackie Miller James Shares Aphasia Diagnosis 10 Months After Aneurysm Rupture
- Ahmaud Arbery’s killers ask a US appeals court to overturn their hate crime convictions
- Meet first time Grammy nominee Charley Crockett
- Nevada Supreme Court will take another look at Chasing Horse’s request to dismiss sex abuse charges
- Sister Wives' Hunter Brown Shares How He Plans to Honor Late Brother Garrison
- Arnold Schwarzenegger gets a pacemaker, becomes 'a little bit more of a machine'
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Hold Tight to These Twilight Cast Reunion Photos, Spider Monkey
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Sinking Coastal Lands Will Exacerbate the Flooding from Sea Level Rise in 24 US Cities, New Research Shows
- Sean 'Diddy' Combs' lawyer says rapper is innocent, calls home raids 'a witch hunt'
- Pickup truck driver charged for role in crash that left tractor-trailer dangling from bridge
- The Daily Money: Spending more on holiday travel?
- Mega Millions winning numbers for enormous $1.1 billion jackpot in March 26 drawing
- Pregnant Chick-fil-A manager killed in crash with prison transport van before baby shower
- Reseeding the Sweet 16: March Madness power rankings of the teams left in NCAA Tournament
Recommendation
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Indictment accuses Rwandan man of lying about role in his country’s 1994 genocide to come to US
Case against woman accused in death of adopted young son in Arizona dismissed, but could be refiled
The Daily Money: Dollar Tree to charge up to $7
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
Are banks, post offices, UPS and FedEx open on Good Friday 2024? Here's what to know
What Lamar Odom Would Say to Ex Khloe Kardashian Today
Krystal Anderson’s Husband Shares Heart-Wrenching Message After Past Kansas City Chiefs Cheerleader Dies