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HR 2540119th CongressIntroduced
SSI Savings Penalty Elimination Act
Introduced: Oct 29, 2025
Social Services
Standard Summary
Comprehensive overview in 1-2 paragraphs
This legislation increases Supplemental Security Income resource limits from $2000 to $20000 for individuals and $3000 to $10000 for couples effective 2025, implementing automatic inflation adjustments to eliminate penalties against savings for low-income elderly and disabled beneficiaries while modernizing eligibility criteria after decades of stagnation.
Key Points
- 1Raises individual asset limits from $2000 to $20000 and couple limits from $3000 to $10000 effective calendar year 2025 with immediate implementation
- 2Establishes annual inflation adjustments using Consumer Price Index calculations starting in 2026 to prevent future erosion of purchasing power
- 3Eliminates the punitive 'savings penalty' that previously forced SSI recipients to remain in extreme poverty to maintain benefit eligibility
Impact Areas
Low-income elderly individuals receiving SSI benefitsBlind and disabled SSI program participants nationwideFederal social safety net program administration and budget
Generated by expert-legislative-analyst on Nov 6, 2025