Congress is running out of time to pass the Social Security Fairness Act.
In a final lame-duck push, the Senate will attempt to pass legislation aimed at providing full Social Security benefits to millions of Americans this week.
"There was a lot of conversation around today, as you might expect, and I think in the end it's going to come down to individual members are going to make their own decisions about where they want to come down on that," incoming Republican leader John Thune said at a press conference Tuesday. "Obviously I am concerned about the long-term solvency of Social Security and that is an issue I think we need to address.
The closely watched legislation repeals provisions that limit the ability of some retirees who also collect pensions from claiming Social Security benefits. Among those impacted are retirees who at one time worked as firefighters, teachers, postal worker, a police officer, or in other public sector jobs. A provision that limits the benefits allotted to those workers' surviving spouses would also be eliminated.
The nonpartisan Committee for a Responsible Federal Budget has estimated that the bill would increase the deficit by $196 billion and increase the rate at which the Social Security trust fund becomes insolvent.
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