SSI Savings Penalty Elimination Act

Senate Bill 4102 - SSI Savings Penalty Elimination Act: Overview, Status, and Impact

Hozzl · 2024-03-13T22:19:24Z

Explore the details of Senate Bill 4102 SSI Savings Penalty Elimination Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Social Welfare. Stay informed on legislative developments.

3/13/2024, 10:19 PM

Congressional Summary of S 4102

SSI Savings Penalty Elimination Act

This bill increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program. SSI is a federal assistance program that provides monthly cash payments to aged, blind, or disabled individuals with limited income and resources.

Specifically, the bill increases the resource limits from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for married couples. The bill annually adjusts the limits for inflation.

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Current Status of Bill S 4102

Bill S 4102 is currently in the status of Bill Introduced since April 28, 2022. Bill S 4102 was introduced during Congress 117 and was introduced to the Senate on April 28, 2022. Bill S 4102's most recent activity was Read twice and referred to the Committee on Finance. as of April 28, 2022