House lawmakers secured enough signatures to force a vote on a bill to eliminate Social Security rules that reduce benefits for certain retirees with pensions. The bipartisan Social Security Fairness Act aims to repeal the Windfall Elimination Provision and Government Pension Offset, which affect nearly 3 million Americans. In a press conference, lawmakers highlighted the unfair impact of these rules on police, firefighters, teachers, and other public employees. The Congressional Budget Office estimates that repealing the Social Security rules would cost $196 billion over 10 years, further straining the program's trust fund, which is projected to run out by 2035.
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00:00It's Benzinga, and here's what's on the block.
00:03House lawmakers secured enough signatures to force a vote on a bill to eliminate Social
00:07Security rules that reduce benefits for certain retirees with pensions.
00:11The bipartisan Social Security Fairness Act aims to repeal the Windfall Elimination Provision
00:15and Government Pension Offset, which affect nearly 3 million Americans.
00:20In a press conference, lawmakers highlighted the unfair impact of these rules on police,
00:24firefighters, teachers, and other public employees.
00:27The Congressional Budget Office estimates that repealing the Social Security rule would
00:31cost $196 billion over 10 years, further straining the program's trust fund, which is projected
00:36to run out by 2035.
00:38For all things money, visit Benzinga.com.