A recent editorial in The Hill newspaper made a strong argument as to why Congress should consider legislation that updates the asset limits for Supplemental Security Income (SSI).
The Hill is a prominent, nonpartisan Capitol Hill media outlet that is read by staff in nearly all congressional offices.
The editorial’s authors, Kathleen Romig from the Center on Budget and Policy and Priorities and Rebecca Vallas of the Bipartisan Policy Center, call out the “out-of-date asset limits” as “one of the most regressive, anti-saving provisions in federal law.”
According to Romig and Vallas, the asset and savings limit of $2,000 (or $3,000 for a couple) has been in place for nearly 40 years.
NOSSCR fully supports increasing SSI asset limits as well as providing inflation-adjusted resource limits to prevent future outdated caps. We also support increasing the general income and earned income exclusions.
Two months ago, Senator Sherrod Brown introduced the SSI Savings Penalty Elimination Act (S.4102) to help address this issue. It currently has seven cosponsors. While the bill is not expected to pass Congress this session, its introduction is an important step toward addressing this critical need for disability clients.
You can learn more about these and other NOSSCR policy priorities in the advocacy section of the NOSSCR website.