A new bill introduced as part of a federal program is intended to allow the disabled of all kinds and the elderly to receive a cash supplement to their Social Security checks. This new initiative has been under consideration for some time and now, finally, they have introduced the bill.
This proposal is on the table in Washington and two Ohio Senators are the authors. These senators are Democrat Sherrod Brown and Republican Rob Portman. They have created an alliance to increase the money received by the aforementioned people when collecting their Social Security.
This bill is called the SSI Savings Penalty Elimination Act, and the senators introduced it last Thursday. Thanks to SSI, the monthly pension offered is $841 per person, being $1261 when a couple of people meet the necessary characteristics to collect it. These figures are the maximum that individuals can collect.
Some people get less from their Social Security check
In any case, not everyone receives the same amount of money. As we said before, the amount was the maximum that a person – or a couple – can receive from this form of Social Security assistance. There are many reasons to think that we are facing a very serious problem in this matter.
The amount received through SSI is, on average, $13,590 per year. This amount is very small if we take into account annual expenses and the average standard of living in the United States. For this reason, the bill wants to change the system for collecting this type of Social Security check.
Thanks to these proposed changes, people will be able to save a little extra money per month. With this, they will finally have a more peaceful and pleasant retirement. All of this advantages in these Social Security changes are really good.
The bill and its changes
The proposed law to change this type of Social Security is very clear and concise. The idea, in this regard, is to increase the amount of money that people entitled to SSI receive if they are working at the same time.
At present, the most a person who requires this Social Security payment can get is $20 a month for unearned money. The first $65, in this case, are exempt from the rules of this program. Therefore, the profit window is very small.
Senators Brown and Portman are proposing that Congress change these details that have been in place since 1972, since they reduce earnings by 50 cents for every $1 earned by working. Originally, this law made sense, but times change and now people need to collect more from Social Security and SSI to have a good standard of living.
