SSI Savings Penalty Elimination Act

This bill raises how much savings and other assets people can have and still qualify for SSI. Starting in 2025, the limits for both single people and couples go up, and then they will rise each year with inflation using the Consumer Price Index. This helps people on SSI keep a small emergency fund without losing benefits.

Key points

• Who is affected: People who apply for or receive SSI benefits.
• What changes: Higher asset (“resource”) limits for individuals and couples, with automatic yearly increases tied to inflation (CPI-U) after 2025.
• When: New, higher limits start in 2025, with annual adjustments each year after that.