Lawmakers to introduce bill strengthening federal anti-poverty program: It's 'a critical lifeline,' Warren says
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Supplemental Security Income, or SSI, was created in 1972 to help the nation's most vulnerable. Some features of the program have not been updated in decades.
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A bipartisan group of Washington, D.C., lawmakers plans to reintroduce a bill on Thursday that would update a federal anti-poverty program that millions of Americans rely on to provide for their basic needs. Supplemental Security Income is a federal program that provides monthly benefits to adults and children who are blind, disabled or age 65 and older who have limited income and financial resources. Approximately 7.4 million Americans receive SSI benefits. The forthcoming bill, called the Supplemental Security Income Restoration Act, would expand and strengthen SSI benefits at a time when everyday costs are increasing , bill sponsor Sen. Elizabeth Warren, D-Mass., said in a statement. Read more CNBC personal finance coverage There's a push to cut capital gains taxes on home sales to add supply for buyers Iran war and your portfolio: Historical stock market patterns investors should know Trump says '401 s are way up' — but workers are tapping them at record rates AI, layoffs spur workers to want a career change, survey finds — but few may do it Poor coordination can cost couples an average $14,000 in retirement wealth Gold price jumps on Middle East turmoil. What to know before investing What student loan borrowers need to know about judge's ruling on SAVE plan As Iran strikes disrupt flights, why travel insurance may fall short How the U.S.-Iran war could impact gas prices at the pump More low- and middle-income Americans are investing, report finds. Here's why Average IRS tax refund is up 10.2%, based on early filing data IRS: Nearly 1 in 5 eligible filers miss a 'valuable' credit worth thousands Block cuts about half its workforce: How to move forward after a mass layoff Trump said tariffs may 'substantially replace' income taxes. What policy experts say Some student loan borrowers are getting Navient settlement checks — who qualifies CNBC's Financial Advisor 100: Best financial advisors, top firms ranked Of the bill's 30 House and Senate supporters, most are De...
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