Summary
A group of lawmakers is working on a new law called the Supplemental Security Income Restoration Act to update income limits and rules for the Supplemental Security Income (SSI) program. This program helps over 7.4 million people in the U.S. who are blind, disabled, or older with limited income. The proposed changes aim to adjust the program to better meet current costs and coverage needs.
Key Facts
- The Supplemental Security Income Restoration Act aims to update the SSI program, which has not been significantly changed since the 1970s.
- SSI helps about 7.4 million people, including both adults and children, who are blind, disabled, or age 65 and older.
- The law would increase the amount of money beneficiaries can earn without reducing their SSI benefits.
- The general income exclusion would rise from $20 to $158 per month, and the earned income exclusion from $65 to $512 per month.
- Resource limits for individuals and couples would increase, allowing for more savings.
- Coverage would extend to U.S. territories like Puerto Rico and Guam.
- The changes would be adjusted annually for inflation, including raising the benefit rate to 100% of the federal poverty level.
- The bill has been referred to the Senate Finance Committee for consideration.
