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Social Security Trust Funds deficit increase in 2025 due to Fairness Act?
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Joe Biden•Social Security Fairness Act•Social Security•Windfall Elimination Provision•Government Pension Offset•Act•Social Security Trust Funds
Resolution / Starting Odds
Yes • 50%
No • 50%
Official reports from the Social Security Administration
Story
Biden to Sign Social Security Fairness Act, Boosting Benefits for 3 Million Public Service Retirees Including Teachers, Firefighters, Police
Jan 5, 2025, 05:29 PM
President Joe Biden is set to sign into law the Social Security Fairness Act on Sunday, which will boost Social Security payments for nearly 3 million current and former public employees. This legislation affects individuals who receive pensions from their time as teachers, firefighters, police officers, and other public service jobs. The bill rescinds the Windfall Elimination Provision and the Government Pension Offset, provisions that previously limited Social Security benefits for those receiving retirement payments from other sources, including public retirement programs. Advocates argue that the Act corrects a decades-old disparity, although it will increase the strain on Social Security Trust Funds, which are already facing a looming insolvency crisis.
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