S. 1809 · 117th Congress
ASSET Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CoonsSponsor9 cosponsors · 9 D
9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Allowing Steady Savings by Eliminating Tests Act or the ASSET Act
What it does: CRS summary · Introduced in Senate · May 25, 2021
Allowing Steady Savings by Eliminating Tests Act or the ASSET Act
This bill prohibits the use of asset tests or resource limits in certain means-tested public assistance programs and increases the resource limits to qualify for Supplemental Security Income (SSI). SSI is a federal income supplement program designed to help aged, blind, and disabled individuals with limited income and resources meet basic needs.
Under the bill, states may not use asset or resource limits to determine eligibility for (1) programs funded by Temporary Assistance for Needy Families grants, (2) the Supplemental Nutrition Assistance Program, or (3) the Low-Income Home Energy Assistance Program.
In addition, an individual may have up to $10,000 in certain resources (or up to $20,000 for a couple) and qualify for SSI. Under current law, the limit is $2,000 for an individual (or $3,000 for a couple).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ASSET Act
Also known as: Allowing Steady Savings by Eliminating Tests Act
Latest action (May 25, 2021): Read twice and referred to the Committee on Finance.
Policy area: Social Welfare · Origin: Senate · Introduced: May 25, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.