The US Senate Majority Leader, Chuck Schumer, D-N.Y., on Thursday, announced readiness to begin the process for a final vote on a bill seeking to make changes to the Social Security Fairness Act in a bid to provide Social Security benefits to millions of people.
Tribune Online learnt that the bill, if passed by the Senate, would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people.
Schumer’s plans to push for a vote on the bill are setting up a potential passage in the final days of the lame-duck Congress.
According to him, 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.”
Meanwhile, the House passed the bill on a bipartisan vote, while a Senate version of it gained 62 cosponsors when it was introduced last year. However, for the bill to be sent to President Joe Biden for final assent, it still needs support from at least 60 senators to pass Congress.
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Also, if eventually gets the Senate vote, 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.
These are the 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.
According to AP, people who worked in state, local and federal government jobs have been heavily affected by the policies, as have teachers, firefighters and police officers, according to lawmakers and advocates.
Both provisions would be repealed by the bill, thereby increasing Social Security payments for many.
The legislation 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. According to the Congressional Budget Office, it would add an estimated $195 billion to federal deficits over 10 years
Sen. John Thune, the no. 2 Republican in leadership, acknowledged that the policy has strong bipartisan support, but said some Republicans also want to see it “fixed in the context of a broader Social Security reform effort.”
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