Biden Signs ‘Social Security Fairness Act,’ Promising Enhanced Retirement Benefits for Millions – One America News Network
OAN Staff Brooke Mallory
1:32 PM – Friday, January 6, 2025
On Sunday, President Joe Biden enacted new legislation aimed at enhancing Social Security benefits for millions of retired Americans, including educators, firefighters, and law enforcement officials.
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Nearly 3 million public sector employees will benefit from this “plan,” which encompasses government officials, police officers, firefighters, nurses, postal service workers, and public school educators.
Contrarily, Senator Chuck Grassley (R-Iowa) has voiced criticism of the bill, suggesting that it unjustly advantages certain workers while placing a heavier burden on other Social Security recipients.
“Let’s be clear: this legislation would exacerbate inequities in how Social Security benefits are calculated,” Grassley remarked during a speech last month.
Additional critics argue that the new law could jeopardize the overall viability of the Social Security fund. Senator Thom Tillis (R-N.C.) claimed it would hasten the depletion of the Social Security trust fund, projecting it could face bankruptcy within the next decade.
Biden unveiled the legislation at the White House.
“Americans who have diligently worked throughout their lives deserve to retire with economic stability and dignity,” Biden declared prior to endorsing the Social Security Fairness Act, which he indicated would result in an “average monthly increase of $360 for more than 2.5 million Social Security recipients.” He stated, “This is significant for middle-class families, like the one I was raised in and many of you here.”
As per the president, those beneficiaries will also receive a one-time payment to compensate for the benefits shortfall experienced in 2024.
In the final weeks of his presidency, Biden ratified the new law, which had been approved by the Senate on December 21st with a vote of 76–20, just before the conclusion of the 118th Congress. The measure, identified as H.R. 82, gained approval from House members in November.
The projected impact of this proposal is an increase of approximately $195 billion on the federal deficit over a decade, according to the Congressional Budget Office. Benefits resulting from the revised law are set to commence in December 2025.
However, the “significant financial ramifications for the trust funds and the complex [Social Security Administration] implementation challenges that will arise” are not adequately addressed in the new law as noted by Martha Shedden, president of the National Association of Registered Social Security Analysts.
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