S 1234
SSI Savings Penalty Elimination Act
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Bill overview
This bill, the SSI Savings Penalty Elimination Act, aims to eliminate a limit on the amount of savings that people receiving Supplemental Security Income (SSI) can have without it affecting their benefits. It increases the resource limit for both individuals and couples, and it establishes an inflation adjustment to ensure these limits keep pace with rising costs. The changes will take effect starting in 2025, providing more financial flexibility for SSI recipients.
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