More members of Congress, 329, co-sponsored the Social Security Fairness Act (SSFA) than nearly any other legislative proposal in 2024, but that may not be evidence of lawmakers’ eagerness to fix what ails the retirement pension program—the bill doesn’t address the fundamental insolvency issue.
The SSFA would end two provisions of current law that reduce benefits for millions of public employees at all levels of government with separate pension systems. Eliminating the provisions means more Social Security benefits for such workers.
In other words, the SSFA would increase the total amount of Social Security benefits paid out without providing new revenues to fund them. Even so, the bipartisan proposal is likely to pass Congress and President Joe Biden—who promised in his 2020 campaign to eliminate the provision—is expected to sign it into law when lawmakers reconvene after the election….