ASSET Act

The ASSET Act prohibits states from using asset limits to determine eligibility for Temporary Assistance for Needy Families (TANF), the Supplemental Nutrition Assistance Program (SNAP), and the Low-Income Home Energy Assistance Program (LIHEAP). For these programs, households can no longer be denied benefits based on the amount of savings or other financial resources they hold. Additionally, the bill significantly raises the asset cap for Supplemental Security Income (SSI) recipients to $20,000 for individuals and $10,000 for couples starting in 2026. These SSI limits will be adjusted annually for inflation using the Consumer Price Index for Elderly Consumers.