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US SB1234

Bill

Official Source

Status

Introduced

4/1/2025

Primary Sponsor

Catherine Cortez Masto

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Origin

Senate

119th Congress

AI Summary

  • Raises the SSI resource limit for couples from $2,250 to $20,000 and for individuals from $1,500 to $10,000, effective calendar year 2025
  • Establishes annual inflation adjustments for resource limits based on the Consumer Price Index for all urban consumers
  • Inflation adjustments calculated using the 12-month average CPI ending in September of the preceding year, compared to the September 2024 baseline
  • Amends Title XVI of the Social Security Act (42 U.S.C. 1382) to codify these changes
  • Introduced April 1, 2025 with bipartisan sponsorship and referred to the Senate Finance Committee

Legislative Description

SSI Savings Penalty Elimination Act

Social welfare

Last Action

Read twice and referred to the Committee on Finance.

4/1/2025

Committee Referrals

Finance4/1/2025

Full Bill Text

No bill text available