Legis Daily

ASSET Act

USA117th CongressS-1809| Senate 
| Updated: 5/25/2021
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (9)
Patrick J. Leahy (Democratic)Jack Reed (Democratic)Robert P. Casey (Democratic)Tim Kaine (Democratic)Chris Van Hollen (Democratic)Sherrod Brown (Democratic)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Allowing Steady Savings by Eliminating Tests Act or the ASSET Act This bill prohibits the use of asset tests or resource limits in certain means-tested public assistance programs and increases the resource limits to qualify for Supplemental Security Income (SSI). SSI is a federal income supplement program designed to help aged, blind, and disabled individuals with limited income and resources meet basic needs. Under the bill, states may not use asset or resource limits to determine eligibility for (1) programs funded by Temporary Assistance for Needy Families grants, (2) the Supplemental Nutrition Assistance Program, or (3) the Low-Income Home Energy Assistance Program. In addition, an individual may have up to $10,000 in certain resources (or up to $20,000 for a couple) and qualify for SSI. Under current law, the limit is $2,000 for an individual (or $3,000 for a couple).
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Timeline

Bill from Previous Congress

S 116-3276
ASSET Act
May 25, 2021
Introduced in Senate
May 25, 2021
Read twice and referred to the Committee on Finance.
Mar 17, 2022

Latest Companion Bill Action

HR 117-7145
Introduced in House
  • Bill from Previous Congress

    S 116-3276
    ASSET Act


  • May 25, 2021
    Introduced in Senate


  • May 25, 2021
    Read twice and referred to the Committee on Finance.


  • March 17, 2022

    Latest Companion Bill Action

    HR 117-7145
    Introduced in House

Social Welfare

Related Bills

  • HR 117-3822: ASSET Act
Employment and training programsEnergy assistance for the poor and agedFood assistance and reliefInflation and pricesMarriage and family statusPoverty and welfare assistanceState and local government operations

ASSET Act

USA117th CongressS-1809| Senate 
| Updated: 5/25/2021
Allowing Steady Savings by Eliminating Tests Act or the ASSET Act This bill prohibits the use of asset tests or resource limits in certain means-tested public assistance programs and increases the resource limits to qualify for Supplemental Security Income (SSI). SSI is a federal income supplement program designed to help aged, blind, and disabled individuals with limited income and resources meet basic needs. Under the bill, states may not use asset or resource limits to determine eligibility for (1) programs funded by Temporary Assistance for Needy Families grants, (2) the Supplemental Nutrition Assistance Program, or (3) the Low-Income Home Energy Assistance Program. In addition, an individual may have up to $10,000 in certain resources (or up to $20,000 for a couple) and qualify for SSI. Under current law, the limit is $2,000 for an individual (or $3,000 for a couple).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-3276
ASSET Act
May 25, 2021
Introduced in Senate
May 25, 2021
Read twice and referred to the Committee on Finance.
Mar 17, 2022

Latest Companion Bill Action

HR 117-7145
Introduced in House
  • Bill from Previous Congress

    S 116-3276
    ASSET Act


  • May 25, 2021
    Introduced in Senate


  • May 25, 2021
    Read twice and referred to the Committee on Finance.


  • March 17, 2022

    Latest Companion Bill Action

    HR 117-7145
    Introduced in House
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (9)
Patrick J. Leahy (Democratic)Jack Reed (Democratic)Robert P. Casey (Democratic)Tim Kaine (Democratic)Chris Van Hollen (Democratic)Sherrod Brown (Democratic)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)

Finance Committee

Social Welfare

Related Bills

  • HR 117-3822: ASSET Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Employment and training programsEnergy assistance for the poor and agedFood assistance and reliefInflation and pricesMarriage and family statusPoverty and welfare assistanceState and local government operations