SSI Savings Penalty Elimination Act This bill increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program. SSI is a federal assistance program that provides monthly cash payments to aged, blind, or disabled individuals with limited income and resources. Specifically, the bill increases the resource limits from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for married couples. The bill annually adjusts the limits for inflation.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Social Welfare
Disability and paralysisDisability assistanceInflation and pricesPoverty and welfare assistance
SSI Savings Penalty Elimination Act
USA117th CongressS-4102| Senate
| Updated: 4/28/2022
SSI Savings Penalty Elimination Act This bill increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program. SSI is a federal assistance program that provides monthly cash payments to aged, blind, or disabled individuals with limited income and resources. Specifically, the bill increases the resource limits from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for married couples. The bill annually adjusts the limits for inflation.