Loading...
Market
Impact of Social Security Fairness Act on federal deficits by 2034
2
Social Security Fairness Act•Social Security•Windfall Elimination Provision•Government Pension Offset•House•Senate•Congressional Budget Office•Chuck Schumer•118th Congress•Americans
Resolution / Starting Odds
Increase by less than $195 billion • 25%
Increase by $195 billion • 25%
Increase by more than $195 billion • 25%
Other fiscal impact • 25%
Congressional Budget Office reports and analyses
Story
Senate to Vote on Bill to Restore Social Security Benefits for 2.8 Million Government Workers
Dec 12, 2024, 06:57 PM
The U.S. Senate is set to vote next week on the Social Security Fairness Act, which aims to restore full Social Security benefits for approximately 2.8 million government workers. This bill seeks to repeal the Windfall Elimination Provision and the Government Pension Offset, policies that currently reduce Social Security payouts for individuals who receive pensions from jobs not covered by Social Security. The legislation has garnered bipartisan support in the House and is expected to pass the Senate, potentially adding $195 billion to federal deficits over 10 years according to the Congressional Budget Office. Senate Majority Leader Chuck Schumer has initiated the process for a final vote in the final days of the 118th Congress, emphasizing the importance of ensuring Americans receive their earned Social Security benefits without penalties for public service work. The bill's passage would mark a significant win, benefiting postal and federal retirees among others.
View original story
Similar markets
Less than $195 billion • 25%
Approximately $195 billion • 25%
Between $195 billion and $233 billion • 25%
More than $233 billion • 25%
Deficit increases significantly • 25%
Deficit increases moderately • 25%
Deficit remains unchanged • 25%
Deficit decreases • 25%
Improved solvency • 25%
No change • 25%
Worsened solvency • 25%
Uncertain impact • 25%
No Change • 25%
Decrease by less than $25,000 • 25%
Decrease by $25,000 • 25%
Decrease by more than $25,000 • 25%
Significant increase in deficit • 25%
Moderate increase in deficit • 25%
No significant impact on deficit • 25%
Decrease in deficit • 25%
Increase in Social Security spending • 25%
Decrease in Social Security spending • 25%
No significant change • 25%
Budget not passed • 25%
Significant increase • 25%
Moderate increase • 25%
No change • 25%
Decrease • 25%
Favorable to Democrats • 25%
Favorable to Republicans • 25%
No significant impact • 25%
Mixed impact • 25%
Accelerates by 5+ years • 25%
Accelerates by 1-4 years • 25%
No significant change • 25%
Delays insolvency • 25%
Increase by over 500,000 • 25%
Increase by 250,000 to 500,000 • 25%
Increase by less than 250,000 • 25%
No significant change • 25%
Increase in retirements • 25%
Decrease in retirements • 25%
No significant change • 25%
Other • 25%
Pass with majority • 33%
Fail • 33%
Delayed • 34%
Pass with bipartisan support • 25%
Pass with Democratic majority only • 25%
Fail to pass • 25%
Other outcome • 25%
Passes with amendments • 25%
Passes without amendments • 25%
Fails • 25%
Postponed • 25%