- Stage
- In committee
- Started in
- House
- Sponsors
- 3
- Latest action
- Aug 3, 2026
What it does
The ASSET Act would eliminate asset limits in several federally funded means-tested public assistance programs, including TANF, SNAP, LIHEAP, and SSI, to help low-income families build savings and improve financial security without losing eligibility for benefits. It prohibits states from imposing asset or resource limits on eligibility for benefits under these programs and updates the SSI resource limit from $2,250 to $20,000 in 2026, with future adjustments indexed to inflation. The bill includes provisions allowing delayed compliance if state legislation is required, giving states time to enact necessary changes after enactment.
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.