Supplemental Security Income (SSI) provides necessary benefits to nearly 8 million low-income older adults and people with disabilities to help them meet basic needs for food, clothing, and shelter. However, SSI’s strict asset limits have not kept pace with inflation and haven’t been updated in decades.

An individual on SSI is not allowed to have more than $2,000 in total financial resources at any time. Married couples are only allowed $3,000.

The bipartisan SSI Savings Penalty Elimination Act would empower millions of people with disabilities to earn and save more money for their futures by:

• Raising the asset limits for individuals to $10,000
• Raising the asset limits for couples to $20,000 which would eliminate the marriage penalty in the SSI program
• Index the asset limits to inflation moving forward.