US Senate approves Social Security change despite fiscal concerns
WASHINGTON -The U.S. Congress early on Saturday passed a measure to boost Social Security retirement payments to some retirees who draw public pensions - such as former police and firefighters - which critics warned will further weaken the program's finances.
The bill will overturn a decades-old change to the program that had been made to limit federal benefits to some higher-earning workers with pensions. Over time, growing numbers of municipal employees such as firefighters and postal workers also saw their payments capped. Some of them could received hundreds of dollars more a month in federal benefits as a result of the bill, retirement experts said.
The Committee for a Responsible Federal Budget, a nonpartisan fiscal think tank, is also warning the extra cost will affect the program's future. Republican Senator Ted Cruz on the Senate floor on Wednesday said the bill as written will"throw granny over the cliff".
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