# 119-hr-10023: ASSET Act

119-hr-10023, ASSET Act, is a 119th Congress bill sponsored by Rep. Gomez, Jimmy [D-CA-34] (D-CA); status introduced; PRIA reads it as touching household money (as of 2026-08-21).

- Canonical: https://policyrisk.com/legislation/119-hr-10023
- As of: 2026-08-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10023
- Congress: 119
- Title: ASSET Act
- Status: introduced
- Introduced: 2026-08-03
- Sponsor: Rep. Gomez, Jimmy [D-CA-34] (D-CA)
- Cosponsors: 2
- Policy area: Social Welfare
- Touches household money: yes
- Last recorded action: 2026-08-21

## Summary

**Removes asset tests from major safety‑net programs and raises/indexes Supplemental Security Income resource limits.** This bill ends asset‑based eligibility rules for TANF, SNAP, and LIHEAP and sets new SSI resource amounts with automatic inflation adjustments. - Families and low‑income households: Easier access to SNAP, TANF, and LIHEAP because states may no longer deny benefits based on savings or other assets. This eliminates asset‑based disqualifications across those programs. - SSI recipients and older adults: SSI resource limits are set at $20,000 for individuals and $10,000 for couples for 2026. Those amounts will rise each year with the Consumer Price Index for the Elderly. - States and program administrators: Federal law requires states to change statutes and plans and provides timing rules so states have time after their next legislative session to comply. The bill also updates cross‑references and statutory structure to remove asset tests.

## Cosponsors (2)

- Rep. Hayes, Jahana [D-CT-5] (D-CT), 2026-08-03T00:00:00.000Z
- Rep. Schrier, Kim [D-WA-8] (D-WA), 2026-08-03T00:00:00.000Z

## Provisions PRIA read

- Higher SSI resource limits: benefit, high. If enacted, the bill would set SSI resource limits for calendar year 2026 at $20,000 for individuals and $10,000 for couples. The limits would then automatically rise each year with the Consumer Price Index for the Elderly (CPI-E), using September 2025 as the base. These SSI changes would be treate…
- No asset limits for SNAP: benefit, high. If enacted, SNAP would stop using savings, vehicles, or other assets to decide whether a household qualifies. The bill would remove statutory language that ties eligibility or disqualification to assets. The change would apply to months that begin 30 days after enactment. States would get extra tim…
- States cannot use TANF asset limits: benefit, medium. If enacted, States that receive TANF grants would be barred from applying any asset or resource limit to decide who gets TANF-funded benefits, assistance, or services. The rule would apply to months that begin 30 days after enactment. If a State needs to change its laws, it would not be treated as…
- No LIHEAP asset exclusions: benefit, low. If enacted, State LIHEAP plans would have to agree not to deny households LIHEAP help just because they have assets. The change would apply to months that begin 30 days after enactment. If a State needs new laws to comply, its plan would not be treated as noncompliant until after the State's next r…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-6900: American Affordability Act of 2025
- 119-hr-7973: Momnibus Act
- 119-hr-7853: PrEP Access and Coverage Act of 2026
- 119-hr-3644: Menstrual Equity For All Act of 2025
- 119-hr-51: Washington, D.C. Admission Act

## Sources
- [119-hr-10023 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10023)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-6900: American Affordability Act of 2025](https://policyrisk.com/legislation/119-hr-6900)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7853: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-hr-7853)
- [119-hr-3644: Menstrual Equity For All Act of 2025](https://policyrisk.com/legislation/119-hr-3644)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10023 (as of 2026-08-21).