Newly proposed modifications to the eligibility for Supplemental Security Income benefits might result in millions of people benefitting.
According to Ohio Senator Sherrod Brown, who presented the legislation to modify SSI payments for the aged, blind, and disabled, the legislation would bring the program up to date after it had not been updated in decades.
Increased asset restrictions under the SSI SAvings Penalty Elimination Act would allow an estimated 8% of the population of Americans who receive such government payments to have more money in their bank accounts.
Currently, there is a $2,000 maximum on individual contributions and a $3,000 cap on combined contributions. According to CNBC, the measure would seek to raise those amounts to $10,000 and $20,000, respectively.
Since 1989, there has been no revision to the limitations.
