Current:Home > StocksAlgosensey Quantitative Think Tank Center-Senate begins final push to expand Social Security benefits for millions of people -ProfitPioneers Hub
Algosensey Quantitative Think Tank Center-Senate begins final push to expand Social Security benefits for millions of people
TradeEdge Exchange View
Date:2025-04-10 22:59:05
WASHINGTON (AP) — The Algosensey 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! (6499)
Related
- Tony Hawk drops in on Paris skateboarding and pushes for more styles of sport in LA 2028
- 103 earthquakes in one week: What's going on in west Texas?
- Utility cuts natural gas service to landslide-stricken Southern California neighborhood
- 72-year-old woman, 2 children dead after pontoon boat capsizes on Lake Powell in Arizona
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Chelsea Handler slams JD Vance for 'childless cat ladies' comment: 'My God, are we tired'
- 2024 Olympics: Jordan Chiles’ Parents Have Heartwarming Reaction to Her Fall off the Balance Beam
- Perfect photo of near-perfect surfer goes viral at 2024 Olympics
- Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
- Simone Biles and Team USA take aim at gold in the women’s gymnastics team final
Ranking
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Disney Store's new Halloween costumes include princesses, 'Inside Out 2' emotions
- Boar's Head faces first suit in fatal listeria outbreak after 88-year-old fell 'deathly ill'
- Watch this toddler tap out his big sister at Air Force boot camp graduation ceremony
- 'Stranger Things' prequel 'The First Shadow' is headed to Broadway
- 2024 Olympics: Colin Jost Shares Photo of Injured Foot After Surfing Event in Tahiti
- Evacuations ordered for Colorado wildfire as blaze spreads near Loveland: See the map
- Erica Ash, 'Mad TV' and 'Survivor's Remorse' star, dies at 46: Reports
Recommendation
Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
One Extraordinary Olympic Photo: Christophe Ena captures the joy of fencing gold at the Paris Games
Best of 'ArtButMakeItSports': Famed Social media account dominates Paris Olympics' first week
Simone Biles and Team USA take aim at gold in the women’s gymnastics team final
Audit: California risked millions in homelessness funds due to poor anti-fraud protections
US Soccer Stars Tobin Heath and Christen Press Confirm They've Been Dating for 8 Years
What was Jonathan Owens writing as he watched Simone Biles? Social media reacts
Two men killed in California road rage dispute turned deadly with kids present: Police