3.0.0 3276 2022-02-08T23:22:56Z 2022-02-08T23:22:56Z Senate S 2020-02-11 116 ssfi00 Finance Committee Senate Standing Referred to 2020-02-11T22:44:19Z ASSET Act 116 5848 HR 2020-03-05 Referred to the Subcommittee on Nutrition, Oversight, and Department Operations. Identical bill CRS 2020-02-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-02-11 Introduced in Senate IntroReferral 10000 9 Library of Congress C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. N B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2020-02-11 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2020-02-11 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2020-02-11 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2020-02-11 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2020-02-11 True L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2020-02-11 True S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2020-02-11 True K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2020-02-11 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2020-02-11 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2020-02-25 False R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2020-03-11 False B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2020-06-25 False Social Welfare Employment and training programs Energy assistance for the poor and aged Food assistance and relief Inflation and prices Marriage and family status Poverty and welfare assistance State and local government operations Social Welfare 00 2020-02-11 Introduced in Senate 2021-02-04T19:55:39Z 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).

]]> ASSET Act Display Title ASSET Act Short Title(s) as Introduced ASSET Act Introduced in Senate IS Short Title(s) as Introduced Allowing Steady Savings by Eliminating Tests Act Introduced in Senate IS Official Title as Introduced A bill to eliminate asset limits employed by certain federally funded means-tested public assistance programs, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-02-11T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3276is/xml/BILLS-116s3276is.xml 2020-02-11 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.