Bill · S. 1234· Senate(119-S-1234)

SSI Savings Penalty Elimination Act

Age: 62 years

Nevada

Introduced: 4/1/2025
Last activity: 4/1/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Catherine Cortez Masto
Cosponsors: - 7 - 9

Social Welfare

Introduced
In Committee

What this bill would do

This bill, known as the "SSI Savings Penalty Elimination Act," aims to amend title XVI of the Social Security Act. It seeks to update the resource limits required for Supplemental Security Income eligibility. Specifically, it proposes increasing the resource limit for individuals and couples. The bill also establishes a method for these limits to be adjusted for inflation in subsequent years.

Yes· 3 of 6

Would people over 65 be better off under this?+8
The increase in SSI resource limits directly benefits many seniors who rely on these safety net programs.
Would people with disabilities be better off under this?+8
The bill specifically targets resource limits for the SSI program, which is a vital resource for many people with disabilities.
Would households on low incomes be better off under this?+7
The bill provides significant relief for low-income individuals by allowing them to retain more assets while qualifying for SSI.