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Impact of Fairness Act on Social Security solvency by December 31, 2025
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Social Security Fairness Act•Social Security•Windfall Elimination Provision•Government Pension Offset•Senate
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Reports from the Social Security Administration or related federal economic reports
Story
Senate to Vote This Week on $200 Billion Social Security Fairness Act to Restore WEP and GPO Benefits for Nearly 3 Million Public Sector Workers
Dec 17, 2024, 10:50 PM
The U.S. Senate is preparing to vote on the Social Security Fairness Act, a piece of legislation aimed at restoring full Social Security benefits to nearly 3 million public sector workers, including teachers, firefighters, and police officers. Proponents argue that this bill will rectify long-standing inequities faced by these workers, who have had their benefits reduced due to the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). The bill is projected to cost approximately $200 billion. Critics, however, warn that the legislation could hasten the insolvency of the Social Security program for all recipients. The Senate vote is expected to take place this week, with bipartisan support from various senators who emphasize the importance of delivering fair retirement benefits to public servants who have dedicated their careers to serving communities. The urgency of the vote is underscored by the impending end of the current congressional session.
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