118th Congress · HOUSE BILLBILL

H.R. 5408SSI Savings Penalty Elimination Act

To amend title XVI of the Social Security Act to update the resource limit for supplemental security income eligibility.

Social welfare
Introduced Sep 12, 2023
Last action Dec 17, 2024
Pipeline · Bill → Law
Step 1
Introduced
Sep 12, 2023
Step 2
Referred
Dec 17, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

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.

Provisions · 2 sectionsIntroduced in House
Timeline · 4 actions
Dec 17, 2024
Referred to the Subcommittee on Work and Welfare.
Feb 5, 2024
ASSUMING FIRST SPONSORSHIP - Mr. Davis (IL) asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 5408, a bill originally introduced by Representative Higgins (NY), for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Sep 12, 2023
Introduced in House
Sep 12, 2023
Referred to the House Committee on Ways and Means.