summary
Introduced
09/12/2023
09/12/2023
In Committee
09/12/2023
09/12/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend title XVI of the Social Security Act to update the resource limit for supplemental security income eligibility.
AI Summary
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 2023, and for couples from $1,500 to $10,000 in 2023. These limits would then be adjusted for inflation each year thereafter. The bill aims to eliminate the "savings penalty" that currently exists in the SSI program, which can discourage individuals from accumulating savings.
Committee Categories
Budget and Finance
Sponsors (12)
Sherrod Brown (D)*,
Bob Casey (D),
Bill Cassidy (R),
Susan Collins (R),
Maggie Hassan (D),
James Lankford (R),
Lisa Murkowski (R),
Patty Murray (D),
Mike Rounds (R),
Rick Scott (R),
Sheldon Whitehouse (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 09/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/2767/all-info |
| BillText | https://www.congress.gov/118/bills/s2767/BILLS-118s2767is.pdf |
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