TOLEDO, Ohio (WTVG) – Bigger Social Security checks could soon go to millions of Americans. This change is thanks to bipartisan action that awaits President Biden's signature.
“Oh, this is really good news,” retired Toledo firefighter Daniel Desmond said after learning the Senate passed the bill Saturday. “I’m so glad it’s right and fair, so I can breathe a sigh of relief at the financial security it provides as a retiree.”
This legislation eliminates two policies: government pension offsets and windfall elimination provisions.
In some cases, GPOs reduce Social Security benefits for spouses, widows, and widowers who themselves receive pensions. Similarly, WIP reduces Social Security benefits for some people who also receive pension or disability benefits if their employer fails to withhold Social Security taxes.
Generally, these policies affect civil servants and union members, who receive pensions and often receive social security payments.
“For 40 years, public servants who have paid their fair share to the Social Security system have essentially been punished as civil servants,” said Edward Kelly, president of the International Association of Fire Fighters, and his union. He added that he had been fighting for its abolition. GPO and WEP are enacted. “what [the Social Security Fairness Act] Eliminating that penalty would once again right a wrong that has been going on for 40 years. ”
How much more Social Security benefits people affected by this law can receive depends on the specifics of their situation. The law also includes payments owed after January 2024.
The bill has bipartisan support, but some in Washington oppose it.
“We often say we should want to help people,” Kentucky Republican Sen. Rand Paul said on the Senate floor. “Well, if you’re going to give more money to new people, you’re going to have to take the money from somewhere, either by borrowing it or printing it, but it has to come from somewhere. Money doesn’t grow on trees.”
This change will put further stress on the Social Security system, which is underfunded and is expected to start cutting back on benefits for the public around 2035.
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