From a press release:
Today U.S. Senators Sherrod Brown (D-OH) and Bill Cassidy (R-LA) announced the first bipartisan, bicameral push in decades to reform the Supplemental Security Income (SSI) program, which has not been updated in nearly 40 years and currently punishes older and disabled Americans for saving for emergencies and their futures. The senators’ bipartisan SSI Savings Penalty Elimination Act would update SSI’s asset limits for the first time since the 1980s to ensure disabled and elderly Americans are able to prepare themselves for a financial emergency without putting the benefits they rely on to live at risk.
In addition to Brown and Cassidy, U.S. Representatives Brian Higgins (D-NY-26) and Brian Fitzpatrick (R-PA-1) will introduce companion legislation in the House. U.S. Senators Ron Wyden (D-OR), Susan Collins (R-ME), Bob Casey (D-PA), and James Lankford (R-OK) are original Senate cosponsors. ...
Of course, the bill stands no chance in this Congress. The GOP controls the House and the GOP would filibuster in the Senate. Sorry, but there's nowhere near enough Republican support in Congress for this to advance. Maybe, maybe, I can squint at it and imagine the bill progressing after the 2024 election, but only if the Democrats have an overwhelming victory.
8 comments:
How can anyone save in this economy, especially someone on welfare?
@6:57
Not sure if this is what you meant, but cash welfare is almost non-existent except in blue States that properly administer Federal TANF benefits. (which are reimbursed if approved for SSI). Even in NY, most of my SSI clients have no form of cash assistance, and if they do, its $300-400 a month.
Its really not about cash savings. The asset amount is so low that simply having a second vehicle (any year/model due to crazy used car inflation) will disqualify that person from SSI.There is also the issue of inheritance from small estates. Claiamnt's already on SSI have to navigate very complex spend down rules or risk losing their SSI benefit. A $4,000 inheritance should not lead to benefit cessation/overpayments.
I tell my clients that HUD section 8 housing is far more valuable benefit compared to SSI.
Don't paint with too broad a brush. I am saving more than ever. If you are a member of the middle claas your needs are simple, inflation doesn't have a major impact, because all you are buying is groceries and household goods
I drive a 9 year old car and probably spend $100 on clothing all year. Most people complaining about inflation are conspicuous consumers.
0% of making it through Congress in an election year.
Does this help with resources or is it just “savings”?
Admittedly I did not read the entire thing but an increase to the resource limit could be viewed differently as allowing people to “save”.
Kind of like the STABLE accounts now. I’m assuming this will just end up being a way to exclude some savings while not really changing the over effect of other resources.
I agree with you summation and it's about treating people with disabilities fairly and equally.
Update the limit to what?
$10,000.00
Post a Comment