Millions of retired workers in the United States could soon see an increase in their Social Security benefits, thanks to a new bipartisan effort in Congress.
A bill aiming to raise benefits for approximately three million retirees is making progress in the legislative process, thanks to broad support from both Democratic and Republican lawmakers.
The legislation, known as the Social Security Fairness Act, recently took a significant step forward. On Thursday, Congress advanced the bill using a rare tool known as a discharge petition. This allows a bill to bypass standard committee procedures and head straight to the House floor for a vote.
If passed, the new law would close existing loopholes that prevent some retirees, especially those receiving certain government pensions, from accessing their full Social Security benefits.
Bipartisan Support for Social Security Benefits Expansion
The push for this bill was led by Democratic Representative Abigail Spanberger and Republican Representative Garrett Graves. Their joint efforts to gather signatures on the discharge petition paid off when they secured the necessary 218 signatures—47 from Republicans and 171 from Democrats.
With these signatures, they can now request that Speaker of the House Mike Johnson schedule a vote on the bill within seven legislative days.
Spanberger and Graves released a joint statement to mark the occasion, stating, “This is an important milestone, made possible by the advocates who tirelessly pushed for action. For the first time since 2015, a measure to address Social Security fairness has been advanced using a discharge petition.”
The Social Security Fairness Act specifically targets the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). These two rules currently reduce Social Security benefits for retirees who also receive certain government pensions, such as those from federal, state, or local positions where Social Security payroll taxes were not paid.
The Impact of the WEP and GPO on Retirees
The Windfall Elimination Provision (WEP) impacts around two million Social Security beneficiaries. The WEP can reduce a person’s Social Security benefits if they earned a pension from a public-sector job where they did not pay Social Security taxes. Even if a person made contributions to Social Security in other jobs, the WEP can still result in a lower benefit amount.
Similarly, the Government Pension Offset (GPO) affects nearly 800,000 retirees. This rule reduces spousal or survivor benefits for individuals who worked in jobs where they didn’t pay Social Security taxes. Many retirees impacted by the GPO find that their Social Security spousal benefits are significantly reduced or even eliminated.
Both the WEP and GPO have long been criticized by retirees and lawmakers alike for unfairly penalizing public-sector workers. Retirees from across the country, from states like Virginia to Louisiana, have voiced their concerns about these provisions. They argue that, after decades of service, they deserve full access to the benefits they have earned.
Financial Implications of The Social Security Fairness Act
If the Social Security Fairness Act becomes law, it could have significant financial implications. The Congressional Budget Office (CBO) estimates that the bill could cost the Social Security Administration (SSA) around $196 billion over the next ten years. However, proponents of the bill argue that this cost is a small price to pay for ensuring fairness in the Social Security system.
Spanberger and Graves noted that millions of retirees have been waiting for over 40 years for their elected officials to address the WEP and GPO. “These retirees deserve the Social Security benefits their hard work has earned,” they said. The elimination of these provisions would provide relief to a large number of public servants who feel they have been unfairly penalized for their service.
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What’s Next for the Bill?
The next steps for the Social Security Fairness Act involve bringing the bill to the House floor for a vote. With bipartisan support and public pressure mounting, there is optimism that the bill could pass. If approved, the legislation could be enacted as early as the start of fiscal year 2025, offering retirees the benefit increases they’ve long been waiting for.
For now, retirees are keeping a close eye on Congress, hoping that this long-awaited change will finally become a reality. The passage of the Social Security Fairness Act would mark a major victory for millions of retired workers and their families.
Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.
