SSI Savings Penalty Elimination Act: Improving Social Welfare by Removing Financial Barriers for Individuals with Disabilities

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.

S2767-118, HR7138-118,

House floor actions Actions

Floor
Feb. 05 2024	ASSUMING FIRST SPONSORSHIP - Mr. Davis (IL) asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 5408, a bill originally introduced by Representative Higgins (NY), for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

IntroReferral
Sep. 12 2023	Referred to the House Committee on Ways and Means.

Library of Congress Actions

IntroReferral
Sep. 12 2023	Introduced in House Introduced in House

House bill HR5408-118

SSI Savings Penalty Elimination Act

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