# 116-hr-5848: ASSET Act

116-hr-5848, ASSET Act, is a 116th Congress bill sponsored by Rep. Cox, TJ [D-CA-21] (D-CA); status Referred to the Subcommittee on Nutrition, Oversight, and Department Operations. (as of 2025-11-18).

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- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-5848
- Congress: 116
- Title: ASSET Act
- Status: Referred to the Subcommittee on Nutrition, Oversight, and Department Operations.
- Introduced: 2020-02-11
- Sponsor: Rep. Cox, TJ [D-CA-21] (D-CA)
- Cosponsors: 7
- Policy area: Social Welfare
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Allowing Steady Savings by Eliminating Tests Act or the ASSET Act This bill prohibits the use of asset tests or resource limits in certain means-tested public assistance programs and increases the resource limits to qualify for Supplemental Security Income (SSI). SSI is a federal income supplement program designed to help aged, blind, and disabled individuals with limited income and resources meet basic needs. Under the bill, states may not use asset or resource limits to determine eligibility for (1) programs funded by Temporary Assistance for Needy Families grants, (2) the Supplemental Nutrition Assistance Program, or (3) the Low Income Home Energy Assistance Program. In addition, an individual may have up to $10,000 in certain resources (or up to $20,000 for a couple) and qualify for SSI. Under current law, the limit is $2,000 for an individual (or $3,000 for a couple).

## Cosponsors (7)

- Rep. Khanna, Ro [D-CA-17] (D-CA), 2020-10-02T00:00:00.000Z
- Rep. Schrier, Kim [D-WA-8] (D-WA), 2020-02-11T00:00:00.000Z
- Rep. Gomez, Jimmy [D-CA-34] (D-CA), 2020-02-11T00:00:00.000Z
- Rep. Smith, Adam [D-WA-9] (D-WA), 2020-02-26T00:00:00.000Z
- WM. CLAY (D-MO), 2020-02-28T00:00:00.000Z
- Rep. Moore, Gwen [D-WI-4] (D-WI), 2020-07-16T00:00:00.000Z
- Rep. Lee, Barbara [D-CA-12] (D-CA), 2020-09-11T00:00:00.000Z

## Related bills

- 116-hr-8015: Delivering for America Act
- 116-hr-7120: George Floyd Justice in Policing Act of 2020
- 116-hr-6820: Emergency Rental Assistance and Rental Market Stabilization Act of 2020
- 116-hr-3589: Greg LeMond Congressional Gold Medal Act
- 116-hr-2694: Pregnant Workers Fairness Act
- 116-hr-2474: Protecting the Right to Organize Act of 2019

## Sources
- [116-hr-5848 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/5848)

## Related
- [116-hr-8015: Delivering for America Act](https://policyrisk.com/legislation/116-hr-8015)
- [116-hr-7120: George Floyd Justice in Policing Act of 2020](https://policyrisk.com/legislation/116-hr-7120)
- [116-hr-6820: Emergency Rental Assistance and Rental Market Stabilization Act of 2020](https://policyrisk.com/legislation/116-hr-6820)
- [116-hr-3589: Greg LeMond Congressional Gold Medal Act](https://policyrisk.com/legislation/116-hr-3589)
- [116-hr-2694: Pregnant Workers Fairness Act](https://policyrisk.com/legislation/116-hr-2694)
- [116-hr-2474: Protecting the Right to Organize Act of 2019](https://policyrisk.com/legislation/116-hr-2474)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-5848 (as of 2025-11-18).