All Information (Except Text) for S.3276 - ASSET Act116th Congress (2019-2020)
|Sponsor:||Sen. Coons, Christopher A. [D-DE] (Introduced 02/11/2020)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 02/11/2020 Read twice and referred to the Committee on Finance. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Title(s) as Introduced
Allowing Steady Savings by Eliminating Tests Act
Actions Overview (1)
|02/11/2020||Introduced in Senate|
02/11/2020 Introduced in Senate
All Actions (1)
|02/11/2020||Read twice and referred to the Committee on Finance.|
Action By: Senate
02/11/2020 Read twice and referred to the Committee on Finance.
|Sen. Brown, Sherrod [D-OH]*||02/11/2020|
|Sen. Booker, Cory A. [D-NJ]*||02/11/2020|
|Sen. Durbin, Richard J. [D-IL]*||02/11/2020|
|Sen. Van Hollen, Chris [D-MD]*||02/11/2020|
|Sen. Harris, Kamala D. [D-CA]*||02/11/2020|
|Sen. Leahy, Patrick J. [D-VT]*||02/11/2020|
|Sen. Sanders, Bernard [I-VT]*||02/11/2020|
|Sen. Kaine, Tim [D-VA]*||02/11/2020|
|Sen. Casey, Robert P., Jr. [D-PA]*||02/11/2020|
|Sen. Schatz, Brian [D-HI]||02/25/2020|
|Sen. Reed, Jack [D-RI]||03/11/2020|
|Sen. Baldwin, Tammy [D-WI]||06/25/2020|
|Committee / Subcommittee||Date||Activity||Related Documents|
|Senate Finance||02/11/2020||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (02/11/2020)
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).