ASSET Act

Summary

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).

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Timeline

1. 11 June 2021

   Referred

   Referred to the Subcommittee on Worker and Family Support.

   Source: Committee

2. 11 June 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Energy and Commerce, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 11 June 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 11 June 2021

   Introduced

   Introduced in House

   Source: IntroReferral

5. 14 June 2021

   Referred

   Referred to the Subcommittee on Energy.

   Source: Committee

6. 15 July 2021

   Referred

   Referred to the Subcommittee on Nutrition, Oversight, and Department Operations.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 11 June 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 June 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 June 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 June 2021

  Open at official source

Sponsors

• Jimmy Gomez · D · Sponsor
• Kim Schrier · D · Sponsor
• Jahana Hayes · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• Rep. Khanna, Ro [D-CA-17] · D · Sponsor
• Rep. Smith, Adam [D-WA-9] · D · Sponsor
• Gwen Moore · D · Sponsor
• Rep. Sewell, Terri A. [D-AL-7] · D · Sponsor
• Dwight Evans · D · Sponsor
• Rep. Carson, André [D-IN-7] · D · Sponsor
• Barbara Lee · D · Sponsor
• Rep. Carbajal, Salud O. [D-CA-24] · D · Cosponsor
• Rep. Cohen, Steve [D-TN-9] · D · Cosponsor
• · hsag00 · Standing
• · hsif00 · Standing
• · hswm00 · Standing
• · hsed00 · Standing

Related records

• related to → ASSET Act
• related to → ASSET Act