Millions of Americans could see their social security benefits increase if President Joe Biden signs into law the Social Security Fairness Act, which has already passed both chambers of Congress with bipartisan support.
The bill moved to Biden's desk on Friday after being passed by the Senate with 76 Senators from both parties in support, against 20 Republicans who were opposed. On Facebook, the National Fraternal Order of Police, which is supporting the legislation, said Biden was "scheduled" to sign the bill on January 6 though this hasn't been officially confirmed.
Newsweek contacted the White House press office for comment on Wednesday via email outside of regular office hours.
Why It Matters
If passed into law, the Social Security Fairness Act would boost social security benefits to what CNN estimates are nearly three million public sector workers at the federal and local level, including large numbers of police officers, firefighters, and teachers.
Supporters of the legislation have argued the current system, which reduces benefits for employees who also collect pensions from jobs that aren't covered by social security, disproportionately impacts public sector workers and their families.
What To Know
If passed into law, the Social Security Fairness Act would repeal two federal policies, the windfall elimination provision (WEP) and the government pension offset (GPO) which currently restrict access to benefits.
According to the Congressional Budget Office, the WEP "reduces benefits for retired or disabled workers who have fewer than 30 years of significant earnings from employment covered by Social Security if they also receive pensions on the basis of noncovered employment."
This means employees in this category have their benefits reduced if they also receive pensions from other jobs that aren't covered by social security.
The Congressional Budget Office states that the GPO currently "reduces the spousal or surviving spousal benefits of people who receive pensions on the basis of noncovered employment."
Americans can become eligible for retirement benefits once they have paid into Social Security for at least 10 years. If their spouse also pays into the program, they can receive spousal or survivor benefits.
If signed by Biden, the new law will apply retroactively to all Social Security benefits paid after December 2023. Those impacted will include employees covered by alternative pension systems who currently see reduced or zero benefits from Social Security due to the WEP or GPO.
What People Are Saying
Outgoing Senate Majority Leader Chuck Schumer, a Democrat, said the Senate passing the Social Security Fairness Act "finally corrects a 50-year mistake."
Ohio Senator Sherrod Brown, one of the bills co-sponsors, said: "Social Security is a bedrock of our middle class. You pay into it for 40 quarters, you earned it, it should be there when you retire. All these workers are asking for is for what they earned."
Shannon Benton, executive director of the Senior Citizens League, told CBS News the bill's passage through Congress was "a monumental victory for millions of public service workers who have been denied the full benefits they've rightfully earned."
What Happens Next
President Biden has just days to sign the legislation into law before the inauguration of his successor, President-elect Donald Trump, on January 20.
In a post on X, formerly Twitter, the International Association of Fire Fighters said the White House had "announced" Biden will sign the legislation at 10 a.m. on January 6, though Newsweek can't find any public announcement to this effect.
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