Millions May See Social Security Boost If Biden Signs New Bill

Millions of Americans may see their Social Security benefits increase under a bill headed to President Joe Biden’s desk — though critics warn that the measure comes at the cost of pushing the fund further toward insolvency.

If signed by the president before the new Congress convenes on Jan. 3, the law would boost Social Security payments to more than 2 million beneficiaries, according to the Congressional Research Service. The increases — as much as $550 a month for some retirees — would be retroactive to December 2023.

Those beneficiaries are mostly those who have received foreign pensions or ...