119-s1234

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1234 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1234

 To amend title XVI of the Social Security Act to update the resource 
 limit for supplemental security income eligibility.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 April 1 (legislative day, March 31), 2025

Ms. Cortez Masto (for herself, Mr. Cassidy, Mr. Wyden, Ms. Collins, Ms. 
 Hassan, Mr. Lankford, Mrs. Murray, Ms. Murkowski, Mr. Whitehouse, and 
 Mr. Scott of Florida) introduced the following bill; which was read 
 twice and referred to the Committee on Finance

_______________________________________________________________________

 A BILL

 To amend title XVI of the Social Security Act to update the resource 
 limit for supplemental security income eligibility.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``SSI Savings Penalty Elimination 
Act''.

SEC. 2. UPDATE IN ELIGIBILITY FOR THE SUPPLEMENTAL SECURITY INCOME 
 PROGRAM.

    (a) Update in Resource Limit for Individuals and Couples.--

Section 1611

    (a)

    (3) of such Act (42 U.S.C. 1382

    (a)

    (3) ) is amended--

    (1) in subparagraph
        (A) , by striking ``$2,250'' and all 
 that follows through the end of the subparagraph and inserting 
 ``$20,000 in calendar year 2025, and shall be increased as 
 described in 

section 1617
            (d) for each subsequent calendar 
 year.''; and

    (2) in subparagraph
        (B) , by striking ``$1,500'' and all 
 that follows through the end of the subparagraph and inserting 
 ``$10,000 in calendar year 2025, and shall be increased as 
 described in 

section 1617
            (d) for each subsequent calendar 
 year.''.

    (b) Inflation Adjustment.--

Section 1617 of such Act (42 U.S.C. 
1382f) is amended--

    (1) in the section heading, by inserting ``; inflation 
 adjustment'' after ``benefits''; and

    (2) by adding at the end the following:
 ``
            (d) In the case of any calendar year after 2025, each of the 
amounts specified in 

section 1611

    (a)

    (3) shall be increased by 
multiplying each such amount by the quotient (not less than 1) obtained 
by dividing--
 ``

    (1) the average of the consumer price index for all urban 
 consumers (all items; United States city average, as published 
 by the Bureau of Labor Statistics of the Department of Labor) 
 for the 12-month period ending with September of the preceding 
 calendar year, by
 ``

    (2) such average for the 12-month period ending with 
 September 2024.''.
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