Senators Rob Portman (R-OH) and Sherrod Brown (D-OH) introduced legislation this week to increase the asset limits for Supplemental Security Income (SSI) beneficiaries. Currently, the 8 million Americans who receive SSI benefits are limited to $2000 in assets, $3000 for married couples. The average monthly benefit is $585.
The legislation would increase the limits, last revised in 1984 (!), to $10,000 for individuals and $20,000 for married couples and index them to inflation going forward.