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Major Increase in Savings Limits for SSI Recipients.

This law dramatically raises the asset limits for low-income seniors and disabled individuals receiving Supplemental Security Income (SSI). The change allows beneficiaries to save significantly more money for emergencies or future needs without risking the loss of their essential financial support. Furthermore, the new limits will be automatically adjusted for inflation every year.
Key points
The savings limit for single SSI recipients will increase to $20,000 starting in 2025.
The savings limit for SSI couples will increase to $10,000 starting in 2025.
Low-income individuals can now save larger amounts safely without jeopardizing their benefits.
All new resource limits will be adjusted annually based on inflation to maintain their real value over time.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1234
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2025-04-01
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
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 119_S_1234.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-04-01.

What are the main provisions?

Key points include:

  • The savings limit for single SSI recipients will increase to $20,000 starting in 2025.
  • The savings limit for SSI couples will increase to $10,000 starting in 2025.
  • Low-income individuals can now save larger amounts safely without jeopardizing their benefits.
  • All new resource limits will be adjusted annually based on inflation to maintain their real value over time.
What is the specific legal status?

The current status is Introduced.

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. Cortez Masto, Catherine [D-NV].

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 2025-12-31.

CATEGORIES

Benefits