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Social Security Benefits Set To Be Expanded for Millions

The article from MSN discusses a proposed expansion of Social Security benefits aimed at addressing the program's financial challenges and enhancing benefits for recipients. Key points include an increase in the minimum benefit for low-income workers, adjustments to the cost-of-living adjustments (COLA) to better reflect inflation, and the potential elimination of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These changes are part of broader legislative efforts to ensure the sustainability of Social Security, with proposals like the Social Security 2100 Act by Rep. John Larson gaining traction. The expansion aims to provide more financial security for millions of Americans, particularly those with lower incomes, by ensuring that benefits keep pace with the actual cost of living and by removing penalties that currently reduce benefits for certain public sector workers. However, these changes would require significant funding, likely through increased taxes or adjustments to the payroll tax cap.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/news/politics/social-security-benefits-set-to-be-expanded-for-googlemillions/ar-AA1wOo7E ]