The SSI Savings Penalty Elimination Act has been brought back to Congress in 2025. On April 1, 2025, Representatives Danny K. Davis (D-IL) and Brian Fitzpatrick (R-PA) introduced the bill in the House of Representatives. Senator Catherine Cortez Masto (D-NV), Senator Bill Cassidy (R-LA), and Senator Ron Wyden (D-OR) also introduced companion legislation in the Senate.
A new bill is being proposed to update the Supplemental Security Income (SSI) program. It wants to increase the asset limits from $2,000 to $10,000 for single people and from $3,000 to $20,000 for married couples. They also plan to keep these limits up with inflation in the future. This change would help low-income seniors and people with disabilities save more money without losing their SSI benefits.
Many people, including Congressman Brian Fitzpatrick, support this bill. It’s been backed by over 200 organizations, like AARP, Microsoft, and the U.S. Chamber of Commerce.
The bill has been sent to the House Committee on Ways and Means for review. If you want to support this bill, you can reach out to your congressional representatives and let them know what you think, or text SIGN PXFDTO to 50409.
