What this bill does
The ASSET Act (H.R. 10023) eliminates or raises the asset and financial resource limits used to determine eligibility for four federal assistance programs:
* Temporary Assistance for Needy Families (TANF)
* Supplemental Nutrition Assistance Program (SNAP)
* Low-Income Home Energy Assistance Program (LIHEAP)
* Supplemental Security Income (SSI)
Under the bill, states and federal agencies are prohibited from using household savings or assets to deny eligibility for TANF, SNAP, and LIHEAP, and the maximum allowable resources for SSI recipients are significantly increased.
Who it affects
* **Applicants and recipients** of TANF, SNAP, LIHEAP, and SSI who may currently be disqualified due to savings, bank accounts, or other financial assets.
* **State agencies** that administer TANF, SNAP, and LIHEAP, which must adjust their eligibility systems to comply with federal rules.
* **Federal agencies**, specifically the Department of Health and Human Services (HHS) and the Department of Agriculture (USDA), which oversee compliance.
What would change
* **TANF:** States receiving federal TANF block grants are required to stop applying asset or resource tests to determine eligibility for benefits, assistance, or services.
* **SNAP:** The law governing SNAP is amended to remove provisions that evaluate a household's financial assets or resources when determining eligibility.
* **LIHEAP:** States are prohibited from denying energy assistance to a household based entirely or partially on the assets of its members.
* **SSI Resource Caps:**
* For individuals, the allowable resource limit increases from $1,500 to $10,000.
* For married couples, the allowable resource limit increases from $2,250 to $20,000.
* Starting in calendar year 2027, the Social Security Administration is required to increase these resource limits annually based on inflation, measured by the Consumer Price Index for Elderly Consumers (CPI-E).
* **Implementation Schedule:**
* The SSI changes apply retroactively as if enacted on **January 1, 2026**.
* The changes for TANF, SNAP, and LIHEAP apply to benefits provided in calendar months starting **30 days or more after the bill becomes law**.
Money or funding
* The provided summaries do not state explicit overall funding allocations, program appropriations, or tax changes.
* The bill directly affects personal asset rules by allowing SSI recipients to hold up to $10,000 (individuals) or $20,000 (couples) in assets in 2026, with required automatic annual increases starting in 2027 based on the CPI-E inflation metric.
Important exceptions or limits
* **Grace Period for States:** If HHS or the USDA determines that a state must pass new state legislation (other than standard funding appropriations) to remove its asset tests, the state will not face non-compliance penalties right away. The state is given a grace period until the first day of the first calendar quarter following the end of its next regular legislative session.
* **Scope of Changes:** The summaries only mention changes to asset and resource tests. They do not describe any changes to income limits or other non-asset eligibility rules for these programs.
Plain-English bottom line
This bill stops states from turning people away from food assistance (SNAP), energy assistance (LIHEAP), or cash/service aid (TANF) based on the money or assets they have saved. It also substantially increases the savings limits for Supplemental Security Income (SSI) recipients for the first time in 2026 and requires those limits to rise with inflation every year after.
