SSI update

The bipartisan Savings Penalty Elimination Act, originally introduced in both chambers of Congress in the 2021-22 session, is back.

The bill, which gives the Supplemental Security Income (SSI) program a critical update, was reintroduced in the Senate on Sept. 12 by Sherrod Brown (D-OH) and Bill Cassidy (R-LA). The measure is expected to be sponsored in the House again as well.

People who get SSI cannot have more than $2,000 in financial resources and married couples only $3,000,  punishing people for saving for emergencies and their futures. The bill would raise those caps to $10,000 for individuals and $20,000 for married couples, and index them to inflation moving forward.

In related news: SS and SSI monthly benefits are likely to grow by 3.2% in 2024, reports Disability Scoop.

On Sept. 12, Emily Demko from Athens County, Ohio, was invited to D.C. to speak on the importance of the SSI Savings Penalty Elimination Act. The Arc has a wonderful video from the event, below.

Image: Rawpixel via Freepik

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