The House of Representatives has passed a new bill to enhance Social Security benefits, a move that could transform the financial outlook for millions of Americans.
At a Glance
- The House passed a Social Security bill with bipartisan support, 327-75.
- The bill repeals provisions limiting payouts for 2.8 million people.
- Repeal potentially increases benefits for government workers, educators, and first responders.
- Bill could add $195 billion to federal deficits over a decade.
- Senate approval required for changes effective post-December 2023.
House Approval
The House of Representatives approved the bill focusing on enhancing Social Security benefits, passing it with bipartisan support during the lame-duck period, 327-75. This legislative measure aims to address financial inadequacies for older adults and those relying on Social Security benefits.
The bill targets the repeal of controversial measures like the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions reduce Social Security payouts for many receiving pensions from roles not covered by Social Security, affecting around 2.8 million individuals.
The House has passed legislation that would provide full Social Security benefits to millions of people. https://t.co/ehOb4T8ZDs https://t.co/ehOb4T8ZDs
— ABC7 News (@abc7newsbayarea) November 17, 2024
Impact on Beneficiaries
The repeal of these provisions seeks to aid those with pensions from non-Social Security-covered jobs. It directly benefits surviving spouses with government pensions and impacts state, local, and federal employees including teachers, firefighters, and police officers, who might see increased payouts.
“The bill in question expanded Social Security benefits to a small group that had been excluded in the past due to provisions on combining those benefits with additional pensions from workers in certain fields” – Alex Beene
Critics caution the repeal may expedite the insolvency of the Social Security trust fund. Estimates suggest the bill could add $195 billion to federal deficits over the next decade, raising concerns about the fiscal strain on the trust funds.
The House has overwhelmingly passed H. R. 82, the Social Security Fairness Act.
For the sake of all Americans, especially our first responders, who are entitled to their full benefits, the Senate must act. https://t.co/Lwgd6YTd3K
— Rep. Anthony D’Esposito (@RepDesposito) November 14, 2024
Legislative Process and Future Outlook
The bill has gathered 63 sponsors in the Senate, where it needs 60 votes to pass. Approval could see changes implemented for benefits payable post-December 2023. However, if the Senate does not pass it by January 3, supporters will face the challenge of restarting the legislative process.
Supporters from the National Association of Counties cite the bill as beneficial for recruiting workers, while the National Committee to Preserve Social Security and Medicare views it as a “step in the right direction,” although they advocate for more comprehensive reforms.
Sources:
Congressional Push to Expand Some Social Security Benefits
What to know about the congressional push to expand some Social Security benefits
Social Security Benefits Could Be Expanded: Here’s Who’s Impacted
The House just voted ‘yes’ on a bill that would increase Social Security checks for some pensioners
House pushes bill to expand Social Security benefits. Here’s what to know.
What to know about the congressional push to expand some Social Security benefits
U.S. House Takes Historic Leap toward Social Security Fairness
