Congress Passes Controversial Social Security Fairness Act

The U.S. Congress has passed the Social Security Fairness Act, boosting payments for some public pension retirees. Critics warn it could strain the program’s finances, estimated to cost $196 billion over a decade. The bill impacts 3% of beneficiaries and awaits President Biden’s decision.

In a significant legislative move, the U.S. Congress has approved the Social Security Fairness Act to enhance benefits for retirees with public pensions, such as former police and firefighters. This controversial decision has sparked debate over its financial implications for the program.

With the Senate passing the bill by a 76-20 vote, following the House's 327-75 approval, the measure now awaits President Joe Biden's signature. The bill aims to eliminate older provisions that reduced benefits for workers receiving pensions, affecting about 2.5 million Americans.

Critics argue that the bill's $196 billion cost over a decade threatens the already precarious Social Security finances. Despite advocacy group support, experts emphasize the need for a balanced approach to sustaining the program's future.

(With inputs from agencies.)