Biden Enacts Social Security Fairness Act to Boost Benefits

Politics

1 year ago

News sources:

Credited from: THEHILL

President Biden has signed the **Social Security Fairness Act**, aiming to expand benefits for many Americans.
The legislation repeals the **Windfall Elimination Provision (WEP)** and the **Government Pension Offset (GPO)**, which have historically reduced benefits for some workers.
Proponents praise the law as a victory for public servants, with an estimated **2 million beneficiaries** affected by the WEP and nearly **746,000** impacted by the GPO.
Despite support, experts warn of a projected cost of **$190 billion** over ten years, with concerns about the program's financial sustainability.
Beginning this year, affected individuals are expected to receive one-time payments, alongside an increase in monthly benefits averaging **$360**.

For further details, visit the original article at The Hill.