SSI Savings Penalty Elimination Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 18
- Latest action
- Apr 1, 2025
What it does
The SSI Savings Penalty Elimination Act would raise the resource limits for Supplemental Security Income (SSI) eligibility from $2,250 to $20,000 for individuals and from $1,500 to $10,000 for couples, effective in calendar year 2025, with future annual adjustments tied to inflation. This change would allow SSI recipients to save more money without losing their benefits, affecting low-income elderly, blind, or disabled individuals who rely on SSI. The bill also amends the Social Security Act to establish an automatic inflation adjustment mechanism for these resource limits based on the Consumer Price Index.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.