Millions could soon be getting more Social Security benefits

A larger Social Security check could soon be coming to millions of Americans; the change is thanks to a bi-partisan act awaiting President Biden’s signature. “Whoa, this is really good news,” retired Toledo firefighter Daniel Desmond said after learning the Senate passed the legislation on Saturday. “I’m so glad that it’s right and fair, and then you get to take a sigh of relief for the financial security that it can bring you, you know, as a retiree.” The act repeals two policies: the Government Pension Offset and the Windfall Elimination Provisions. The GPO, in some instances, reduces Social Security benefits for spouses, widows and widowers who also receive a pension of their own. Similarly, the WIP reduces Social Security benefits for some people who also receive a pension or disability benefit, if their employer did not withhold Social Security taxes. By and large, these policies affect government employees and union members who often have a pension and are also paid into Social Security. “For 40 years, public employees, who paid their fair share into the Social Security system, were essentially penalized for their public service,” Edward Kelly, the general president of the International Association of Firefighters said, adding that his union has fought to repeal the GPO and WEP since they were enacted. “What [the Social Security Fairness Act] did was eliminate that penalty so it will, again, right that wrong that has been going on for 40 years.” How much more Social Security money those affected by the legislation will get depends on the specifics of their situation. The act also includes back pay from January 2024 onward. The legislation has enjoyed bi-partisan support, but some in Washington are opposed. “You say well we should want to help people,” Republican Kentucky Senator Rand Paul said on the Senate floor. “Well, if we give new people more money, we have to take it from somewhere. We’re going to have to either borrow it or we’re going to have to print it. But it has to come from somewhere. Money doesn’t grow on trees.” The change will add stress to the Social Security System, which is running out of money and is projected to begin reducing people’s benefits around 2035.