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SSI Savings Penalty Elimination Act

USA118th CongressS-2767| Senate 
| Updated: 9/12/2023
Sherrod Brown

Sherrod Brown

Democratic Senator

Ohio

Cosponsors (11)
Rick Scott (Republican)Bill Cassidy (Republican)Margaret Wood Hassan (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Mike Rounds (Republican)James Lankford (Republican)Patty Murray (Democratic)Susan M. Collins (Republican)Ron Wyden (Democratic)Lisa Murkowski (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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

Bill from Previous Congress

S 117-4102
SSI Savings Penalty Elimination Act
Sep 12, 2023
Introduced in Senate
Sep 12, 2023
Read twice and referred to the Committee on Finance.
Dec 17, 2024

Latest Companion Bill Action

HR 118-5408
Referred to the Subcommittee on Work and Welfare.
  • Bill from Previous Congress

    S 117-4102
    SSI Savings Penalty Elimination Act


  • September 12, 2023
    Introduced in Senate


  • September 12, 2023
    Read twice and referred to the Committee on Finance.


  • December 17, 2024

    Latest Companion Bill Action

    HR 118-5408
    Referred to the Subcommittee on Work and Welfare.

Social Welfare

Related Bills

  • HR 118-5408: SSI Savings Penalty Elimination Act
  • HR 118-7138: Supplemental Security Income Restoration Act of 2024
Disability and paralysisDisability assistanceInflation and pricesPoverty and welfare assistance

SSI Savings Penalty Elimination Act

USA118th CongressS-2767| Senate 
| Updated: 9/12/2023
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.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 117-4102
SSI Savings Penalty Elimination Act
Sep 12, 2023
Introduced in Senate
Sep 12, 2023
Read twice and referred to the Committee on Finance.
Dec 17, 2024

Latest Companion Bill Action

HR 118-5408
Referred to the Subcommittee on Work and Welfare.
  • Bill from Previous Congress

    S 117-4102
    SSI Savings Penalty Elimination Act


  • September 12, 2023
    Introduced in Senate


  • September 12, 2023
    Read twice and referred to the Committee on Finance.


  • December 17, 2024

    Latest Companion Bill Action

    HR 118-5408
    Referred to the Subcommittee on Work and Welfare.
Sherrod Brown

Sherrod Brown

Democratic Senator

Ohio

Cosponsors (11)
Rick Scott (Republican)Bill Cassidy (Republican)Margaret Wood Hassan (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Mike Rounds (Republican)James Lankford (Republican)Patty Murray (Democratic)Susan M. Collins (Republican)Ron Wyden (Democratic)Lisa Murkowski (Republican)

Finance Committee

Social Welfare

Related Bills

  • HR 118-5408: SSI Savings Penalty Elimination Act
  • HR 118-7138: Supplemental Security Income Restoration Act of 2024
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Disability and paralysisDisability assistanceInflation and pricesPoverty and welfare assistance