Public Assistance: Removing Savings Limits
The ASSET Act is currently in the early stages of the legislative process and has not moved since August 3, 2026. It is assigned to several House committees, which must review the bill before it can proceed further. Most bills do not receive a committee vote, and this proposal remains inactive as it waits for these groups to take action.
Companion bill: Public Assistance: Removing Savings Limits →This bill faces a difficult path because it would significantly increase government spending and change long-standing rules about who qualifies for aid.
This bill’s path across every version that has carried it.
Companion
Identical companion bill S. 5186 (119th) was introduced in the other chamber.
S. 5186 (119th) →Govbase has not yet run an impact analysis on this legislation.
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Energy and Commerce, and Education and Workforce, 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.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Senator Chris Coons introduced the ASSET Act of 2026 to remove savings limits for programs like SNAP, TANF, and LIHEAP. The bill also raises SSI asset limits from $2,000 to $10,000 for individuals and $3,000 to $20,000 for couples, with future adjustments tied to inflation.
Lawmakers are debating the ASSET Act and the SSI Savings Penalty Elimination Act, which seek to modernize outdated resource limits. The proposals would allow recipients to keep up to $10,000 in savings without losing critical cash assistance and Medicaid eligibility.
No votes recorded for this bill yet.
Document Type
Congressional Bill
Official Title
ASSET Act
Analysis generated by AI. Always verify with official sources.