Social Security Benefits Set To Be Expanded for Millions [View all]

[BumRushDaShow]

Source: Newsweek

Published Jan 01, 2025 at 12:39 PM EST | Updated Jan 01, 2025 at 12:49 PM EST


Millions of Americans could see their social security benefits increase if President Joe Biden signs into law the Social Security Fairness Act, which has already passed both chambers of Congress with bipartisan support.

The bill moved to Biden's desk on Friday after being passed by the Senate with 76 Senators from both parties in support, against 20 Republicans who were opposed. On Facebook, the National Fraternal Order of Police, which is supporting the legislation, said Biden was "scheduled" to sign the bill on January 6 though this hasn't been officially confirmed. Newsweek contacted the White House press office for comment on Wednesday via email outside of regular office hours.

Why It Matters

If passed into law, the Social Security Fairness Act would boost social security benefits to what CNN estimates are nearly three million public sector workers at the federal and local level, including large numbers of police officers, firefighters, and teachers. Supporters of the legislation have argued the current system, which reduces benefits for employees who also collect pensions from jobs that aren't covered by social security, disproportionately impacts public sector workers and their families.

What To Know

If passed into law, the Social Security Fairness Act would repeal two federal policies, the windfall elimination provision (WEP) and the government pension offset (GPO) which currently restrict access to benefits. According to the Congressional Budget Office, the WEP "reduces benefits for retired or disabled workers who have fewer than 30 years of significant earnings from employment covered by Social Security if they also receive pensions on the basis of noncovered employment." This means employees in this category have their benefits reduced if they also receive pensions from other jobs that aren't covered by social security.

Read more: https://www.newsweek.com/social-security-benefits-set-expanded-millions-2008330

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The article mentions a tentative "signing date" of January 6 (although we obviously know what also happens that day so we'll see if it happens then or later).