Bill > S4102

This bill, the SSI Savings Penalty Elimination Act, proposes to update the resource limit for eligibility in the Supplemental Security Income (SSI) program. Specifically, it would increase the resource limit for individuals from $2,250 to $20,000 in 2022, and this amount would be adjusted for inflation each subsequent year. Similarly, the resource limit for couples would increase from $1,500 to $10,000 in 2022, with annual inflation adjustments going forward. The bill aims to update these resource limits, which have remained static for decades, to better reflect current costs of living and allow SSI recipients to save more without risking their benefits.