ASSET Act
The source supplies the latest action, but no lifecycle stage.
Latest action (3 Aug 2026): Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Energy and Commerce, and Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
What this bill does
The ASSET Act would remove asset or resource limits from several federal means-tested assistance programs. It would prohibit states from applying asset tests to families receiving Temporary Assistance for Needy Families (TANF) benefits, eliminate asset-limit provisions in the Supplemental Nutrition Assistance Program (SNAP), and bar states from excluding Low-Income Home Energy Assistance Program (LIHEAP) households based solely or partly on assets. For Supplemental Security Income (SSI), instead of eliminating the asset limit, the bill would raise the resource limits to $20,000 for individuals and $10,000 for couples starting in 2026 and index those amounts to inflation (using the CPI-E) in future years.
These changes would affect low-income individuals and families applying for or receiving TANF, SNAP, LIHEAP, or SSI benefits, potentially allowing them to hold more savings or resources without losing eligibility. States administering these programs would need to update their rules and, where state legislation is required, are given time to comply before enforcement begins.
The bill was introduced on August 3, 2026, by Rep. Jimmy Gomez along with two cosponsors, and has been referred to the House Committees on Ways and Means, Agriculture, Energy and Commerce, and Education and Workforce for review. It has not yet been voted on, and would need committee action and floor votes in the House and Senate before it could become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
3 Aug 2026
Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Energy and Commerce, and Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Common questions
- What does H.R. 10023 do?
- The ASSET Act would remove asset or resource limits from several federal means-tested assistance programs. It would prohibit states from applying asset tests to families receiving Temporary Assistance for Needy Families (TANF) benefits, eliminate asset-limit provisions in the Supplemental Nutrition Assistance Program (SNAP), and bar states from excluding Low-Income Home Energy Assistance Program (LIHEAP) households based solely or partly on assets. For Supplemental Security Income (SSI), instead of eliminating the asset limit, the bill would raise the resource limits to $20,000 for individuals and $10,000 for couples starting in 2026 and index those amounts to inflation (using the CPI-E) in future years. These changes would affect low-income individuals and families applying for or receiving TANF, SNAP, LIHEAP, or SSI benefits, potentially allowing them to hold more savings or resources without losing eligibility. States administering these programs would need to update their rules and, where state legislation is required, are given time to comply before enforcement begins. The bill was introduced on August 3, 2026, by Rep. Jimmy Gomez along with two cosponsors, and has been referred to the House Committees on Ways and Means, Agriculture, Energy and Commerce, and Education and Workforce for review. It has not yet been voted on, and would need committee action and floor votes in the House and Senate before it could become law.
- Has H.R. 10023 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10023. Check the latest action and official source below.
- Who sponsored H.R. 10023?
- H.R. 10023 was sponsored by Rep. Gomez, Jimmy [D-CA-34] (D-CA), with 2 cosponsors.
- What's the latest action on H.R. 10023?
- Referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Energy and Commerce, and Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (3 Aug 2026).
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More bills from Rep. Gomez, Jimmy [D-CA-34]
EATS Act of 2025
ASSET Act
EATS Act of 2023
ASSET Act
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