119th (2025–2027)
H.R. 10023
The ASSET Act eliminates asset limits that currently restrict eligibility for several federal assistance programs. Specifically, the bill prohibits states from using asset or resource limits for Temporary Assistance for Needy Families, removes asset limits from the Supplemental Nutrition Assistance Program (food stamps), and eliminates asset limits in the Low-Income Home Energy Assistance Program. The legislation also significantly increases and indexes the resource limits for Supplemental Security Income, raising the individual limit from $2,250 to $20,000 and the couple limit from $1,500 to $10,000 as of 2026, with automatic annual adjustments for inflation thereafter. The bill affects low-income families and individuals receiving these federal benefits by allowing them to save money and build financial security without losing eligibility for assistance. Most changes take effect 30 days after the bill is enacted, though states that require new legislation to implement the changes are granted additional time through their next regular legislative session.