SSI Savings Penalty Elimination Act updates the resource limit for Supplemental Security Income eligibility.

The SSI Savings Penalty Elimination Act amends title XVI of the Social Security Act to update the resource limit for Supplemental Security Income eligibility. It raises the limit for individuals from $2,250 to $20,000 for calendar year 2025, with annual increases based on inflation. This change aims to ensure that more individuals qualify for SSI benefits by reflecting current economic conditions.

SSI Savings Penalty Elimination Act updates the resource limit for Supplemental Security Income eligibility.

The SSI Savings Penalty Elimination Act amends title XVI of the Social Security Act to update the resource limit for Supplemental Security Income eligibility. It raises the limit for individuals from $2,250 to $20,000 for calendar year 2025, with annual increases based on inflation. This change aims to ensure that more individuals qualify for SSI benefits by reflecting current economic conditions.