WASHINGTON (AP) — President Joe Biden has expanded Social Security benefits to more than 2 million Americans by signing a largely bipartisan bill that Congress passed delayed last year.
Sunday’s ceremony was one of the last times Biden is expected to sign major legislation as president, with Congress now controlled by Republicans and his term ending Jan. 20 when President-elect Donald Trump takes the oath of office performs.
“By signing this law, we are expanding Social Security benefits for millions of teachers … and other public employees, as well as their spouses and survivors,” Biden said. “That represents an estimated average increase of $360 per month. This is a big deal.”
The nearly 2.5 million people covered by the up-to-date law would, he said, “receive a lump sum payment of thousands of dollars to make up for the lack of benefits they should have received in 2024.”
The house voted 327 to 75 in November to pass the bill and the Senate voted 76 to 20 in December to send the bill to Biden.
The up-to-date law The provision for eliminating deadweight effects and the state pension equalization no longer apply For decades, that had led to reductions in the amount some Americans received in Social Security benefits.
Republican Sen. Susan Collins of Maine, who attended the signing ceremony at the White House, released a written statement saying she was “pleased” that “these unfair provisions in our Social Security system have finally been repealed.”
“This is a victory for thousands of teachers, first responders, public servants and the countless advocates who have fought for years to right this injustice,” Collins wrote. “For too long, WEP and GPO have denied retirees and their spouses the Social Security benefits they earned through years of work and contributions to the system. This law ensures that public service no longer comes at the expense of acquired pension rights.”
Former U.S. Rep. Abigail Spanberger, a Democrat who chose not to seek re-election to Congress to run for governor of Virginia, wrote on social media that abolishing the two regulations would be a long time coming.
“Our retired police officers, firefighters, teachers and public employees have worked for decades to right this wrong,” wrote Spanberger, who co-sponsored the House version of the bill last Congress.
The insolvency date is postponed
Expanding benefits is expected to cost $195.65 billion over the next decade and advance the program’s insolvency date by about six months. accordingly the nonpartisan Congressional Budget Office.
“If H.R. 82 were to take effect, the balance of the trust fund (old age and survivorship insurance) under CBO projects would be exhausted approximately half a year earlier than under current law,” wrote CBO Director Phillip L. Swagel A letter to Iowa Senator Chuck Grassley. “The agency assumes that under current law, the balance of the AHV trust fund would be exhausted in fiscal year 2033.”
Other members of Congress who attended the signing ceremony included Louisiana Republican Senator Bill Cassidy, Nevada Democratic Senator Catherine Cortez Masto, Oregon Democratic Senator Ron Wyden, Minnesota Democratic Senator Amy Klobuchar, and Ohio Republican Rep. Tina Smith, Louisiana Democrat Mike Carey, Louisiana Rep. Troy Carter, Louisiana Republican Reps. Clay Higgins and Julia Letlow, Ohio Democratic Reps. Marcy Kaptur and Greg Landsman, and Virginia Democratic Rep. Bobby Scott, according to a list provided by the White House.
Last updated on January 6, 2025, 12:30 p.m
