Some Americans may get hundreds of dollars more in Social Security benefits under Biden's proposed [View all]

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President-elect Joe Biden has plans to expand Social Security — and in some cases, the benefit retirees receive.

In the campaign proposal of what he’d do for older Americans as president, Biden said he would improve Social Security, take the program off the path of insolvency, provide a higher benefit for the oldest beneficiaries and eliminate penalties for teachers and public-sector workers who may face eligibility issues.

Biden also said he would implement a minimum benefit for Americans who worked for 30 years — at least 125% of the poverty level. “No one who has worked for decades and paid into Social Security should have to spend their retirement in poverty,” his campaign site said.

Whether this proposal would be passed, or how soon, is yet to be seen. Biden may have a hard time with passing legislation if the Republicans keep control of the Senate. Still, there’s a chance both Democrats and Republicans will agree on this particular provision, said Dean Baker, senior economist at the Center for Economic and Policy Research. “I would think there’s at least a possibility,” he said.

https://www.marketwatch.com/story/some-americans-may-get-hundreds-of-dollars-more-in-social-security-benefits-under-bidens-proposed-change-11605888741?siteid=yhoof2