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Major Increase in Savings Limits for SSI Eligibility.

This bill significantly raises the amount of savings or assets that low-income aged, blind, and disabled individuals can hold while remaining eligible for Supplemental Security Income (SSI) benefits. This change allows recipients to save money for emergencies or future needs without fear of losing their essential financial support. The new limits will also be adjusted annually for inflation starting after 2023.
Key points
The resource limit for individuals applying for SSI increases from $2,250 to $20,000 (effective 2023).
The resource limit for couples applying for SSI increases from $1,500 to $10,000 (effective 2023).
The new resource limits will be automatically adjusted annually based on the inflation rate starting in 2024.
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Expired
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Additional Information
Print number: 118_S_2767
Sponsor: Sen. Brown, Sherrod [D-OH]
Process start date: 2023-09-12
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SSI Savings Penalty Elimination Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2767.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-09-12.

What are the main provisions?

Key points include:

  • The resource limit for individuals applying for SSI increases from $2,250 to $20,000 (effective 2023).
  • The resource limit for couples applying for SSI increases from $1,500 to $10,000 (effective 2023).
  • The new resource limits will be automatically adjusted annually based on the inflation rate starting in 2024.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Brown, Sherrod [D-OH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Benefits