Today, those thresholds are just one-sixth of their 1972 value, the Center on Budget and Policy Priorities notes, and their worth declines further each year with inflation.
How SSI's asset limits may be raisedIn new research, the Center on Budget and Policy Priorities considers the effects of raising or eliminating the asset limits SSI has for beneficiaries.
That $100,000 threshold would be in line with the amount eligible SSI beneficiaries are currently allowed to hold penalty-free in ABLE accounts, tax advantaged savings programs for people with disabilities.
Another change — excluding the consideration of retirement accounts — could also help bolster SSI program eligibility.
Eliminating the asset test entirely would raise participation in the program by 6%, the nonpartisan research and policy institute found.
Persons:
Tom Grill, Kathleen Romig, Romig, Sen, Sherrod Brown, Rob Portman, Portman, Brown, —, Kristen Dama
Organizations:
Center, Budget, Finance, GOP, Social Security, Sherrod Brown Democratic, Democrat, Republican, Community Legal Services of Philadelphia, Social Security Administration
Locations:
Ohio, Dama