WASHINGTON (States Newsroom) — President Joe Biden has expanded Social Security benefits for more than 2 million Americans by signing broadly bipartisan legislation that Congress approved late last year.
The ceremony on Sunday marked one of the last times Biden is expected to sign major legislation as president, since Congress is now controlled by Republicans and his term is set to end on Jan. 20, when President-elect Donald Trump takes the oath of office.
“By signing this bill, we’re extending Social Security benefits for millions of teachers … and other public employees, and their spouses and survivors,” Biden said. “That means an estimated average of $360 per month increase. That’s a big deal.”
The nearly 2.5 million people covered under the new law, he said, would “receive a lump sum payment of thousands of dollars to make up for the shortfall in benefits they should have gotten in 2024.”
The House voted 327-75 in November to pass the bill and the Senate voted 76-20 in December to send the bill to Biden.
The new law eliminates the windfall elimination provision and government pension offset that for decades had reduced the amount some Americans receive in Social Security benefits.
Maine Republican Sen. Susan Collins, who attended the signing ceremony at the White House, released a written statement saying she was “pleased” that “these unfair provisions in our Social Security system have finally been repealed.”
“This is a victory for thousands of teachers, first responders, public servants, and the countless advocates who fought for years to correct this unfairness,” Collins wrote. “For too long, the WEP and GPO have denied retirees and their spouses the Social Security benefits they earned through years of work and contributions to the system. This law ensures that public service will no longer come at the expense of one’s earned retirement benefits.”
Former U.S. Rep. Abigail Spanberger, a Democrat who chose not to seek reelection to Congress to pursue a run for the Virginia governor’s office, wrote on social media that eliminating the two provisions had been a long time coming.
“Our retired police officers, firefighters, teachers, and public employees worked for DECADES to right this wrong,” wrote Spanberger, who co-sponsored the House version of the bill last Congress.
Insolvency date moves up
The expansion of benefits is expected to cost $195.65 billion during the next 10 years and move up the program’s insolvency date by about six months, according to the nonpartisan Congressional Budget Office.
“If H.R. 82 was enacted, the balance of the (Old-Age and Survivors Insurance) trust fund would, CBO projects, be exhausted roughly half a year earlier than it would be under current law,” CBO Director Phillip L. Swagel wrote in a letter to Iowa Sen. Chuck Grassley. “The agency estimates that under current law, the balance of the OASI trust fund would be exhausted during fiscal year 2033.”
Other members of Congress attending the signing ceremony included Louisiana Republican Sen. Bill Cassidy, Nevada Democratic Sen. Catherine Cortez Masto, Oregon Democratic Sen. Ron Wyden, Minnesota Democratic Sens. Amy Klobuchar and Tina Smith, Ohio Republican Rep. Mike Carey, Louisiana Democratic Rep. Troy Carter, Louisiana Republican Reps. Clay Higgins and Julia Letlow, Ohio Democratic Reps. Marcy Kaptur and Greg Landsman and Virginia Democratic Rep. Bobby Scott, according to a list provided by the White House.
