I fear the social security fairness act s.597 may get killed by a pocket veto
The rules that took away a large share of the social security benefits that a person paid into were written by people who wanted to divide and conquer as they took apart social security. Ronald Reagan signed the WPA into effect. He was doing this for people that really hate the thought that there is a place where money can be put that might be safe from predatory acquisition. In their minds, that sort of thing goes entirely against the purpose of capitalism. In their dreams, a person should pay into retirement accounts that then disappear as companies are bought and sold.
For those who don't understand this, right now, if a person who worked 25 years in the private sector and develops skills that they then share in education for 20 years retires, they will get to retire with the retirement limited by their 20 years of service and 40% of the social security benefits they paid into for 25 years. This means a person will receive the equivalent of 30 years of benefits after having worked for 45 years. Thanks to Ronald Reagan who communicated so well, and the conservative writers of the WEP, this money has been stolen from educators and public servants for years.
Sadly there are folk who will try to convince Biden to let the WPA continue and they might convince him to let the Fairness act die in a pocket veto. He signed 50 bills before Christmas but not this one. Now he is on vacation and on Jan 2, if this is not signed it will go away.
Response to PurgedVoter (Original post)
rso This message was self-deleted by its author.
Nictuku
(3,947 posts).... It helped me understand the situation a bit more than I did previously. My ex-husband was a substitute teacher for half his career life, and it does effect him. I will have to keep my fingers crossed that this get signed somehow. (did it pass both house and senate already? If so, WTF? Why not sign it?
liberal N proud
(60,998 posts)Then after 32 years they let me go at a stage when the growth rate was about to accelerate upwards.
You dont recover from that because your pension was figured into your retirement savings plan.
rso
(2,508 posts)I think this may allay our concerns. Bottom line, the WH will not receive the document until the end of the month.
HR82 was passed by the US Senate by a vote of 76-20 early Saturday morning. The bill passed on a clean vote, without amendment. It is now in the process of being formally submitted to President Biden for his approval.
On Tuesday morning (12/24), the US House of Representatives read into the Congressional record that HR82 had been approved by the US Senate. It was then signed by the Speaker of the House. Once signed by the Senate President the bill, having been approved by both the House and Senate, will officially be sent to the president. This will happen on either 12/30-31.
Once the president receives the official documents, he then has 10 calendar days in which to act.
President Biden is on record as supporting the legislation.
PurgedVoter
(2,412 posts)Thanks