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President Biden signed legislation on Sunday that would strengthen the law social security Paying nearly 3 million current and former government employees.
Biden signed The Social Security Fairness Act, which effectively repealed two laws that reduced benefits for government employees receiving state pensions.
“The bill I'm signing today is about a simple proposition: Americans who have worked their entire lives to earn an honest living should be able to retire with economic security and dignity — that's the whole purpose of Social Security,” Biden said. He said at the signing ceremony in the East Room of the White House.
Biden noted that the new law is a “big deal” and that those affected will receive those payments this year.
President Biden attended the signing ceremony of the Social Security Fairness Act in the East Room of the White House on Sunday. (Reuters/Nathan Howard/Reuters Photo)
The bipartisan legislation repeals two little-known laws: the windfall elimination provision (WEP) and the government pension offset (GPO) that limited Social Security benefits to recipients who received retirement payments from other sources.
Biden speaks at the Social Security Fairness Act signing ceremony on Sunday. (Reuters/Nathan Howard/Reuters Photo)
firemen, police officers, Postal workers, teachers and others with public pensions received reduced Social Security benefits for jobs they held in the private sector because of the WEP, which was designed to prevent the so-called duplication of government pensions and Social Security. .
Critics of the bill argued that the bill would create more problems for the developing Social Security. According to the law, over the next 10 years, $196 billion will be added to the federal budget deficit Congressional Budget Office
Biden said people affected by the new law will receive payments starting this year. (iStock)
Biden acknowledged that there is still more to be done on Social Security, including paying more for the wealthy.
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“However, I recognize that there is more to be done to improve and expand benefits, including those most needed to protect Social Security over the long term,” he said. And finally, asking the wealthiest Americans to start paying their fair share to preserve it and much more.”
Fox News Digital's Louis Casciano contributed to this report.