U.S. House Votes on Social Security Fairness Act

The U.S. House of Representatives is preparing to vote on the Social Security Fairness Act, which aims to eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), benefiting millions of public servants. The bipartisan effort led by Congress members Abigail Spanberger and Garret Graves currently has 325 cosponsors, needing just 218 to proceed. In related news, the Social Security Administration (SSA) will begin disbursing up to $943 in Supplemental Security Income (SSI) payments to support individuals with disabilities, with payments expected to be issued on August 30 due to a calendar quirk. The average Social Security benefit for retired workers is approximately $1,919.40 per month, with significant variances depending on individual work history and claiming age. Additionally, the SSI program is a needs-based initiative designed to assist those facing severe financial distress due to debilitating conditions, and it recently saw a 3.2% increase in benefits due to inflation. As 2024 progresses, confusion over payment schedules may affect recipients, especially with upcoming double-payment months due to weekends and holidays.