New Projections for SSI in 2024 - Up to $2,562 Monthly Checks?

TLDRIn this video, we discuss the projections for SSI benefits in 2024. The federal poverty line is expected to increase to $15,380, and there are standalone bills in Congress to raise SSI benefits to this level. If passed, SSI beneficiaries could receive up to $2,562 in monthly checks. Additionally, there is a piece of legislation to remove the marriage penalty for SSI recipients.

Key insights

💰Projections show that the federal poverty line for 2024 could increase to $15,380.

There are standalone bills in Congress to raise SSI benefits to the federal poverty line.

💑A piece of legislation aims to remove the marriage penalty for SSI recipients.

💵Raising benefits to the federal poverty line could result in an increase of $1,267 per month for married couples.

👥Approximately 8 million SSI beneficiaries could benefit from these potential changes.

Q&A

What is the federal poverty line projected to be in 2024?

Projections suggest that the federal poverty line for 2024 could be $15,380.

Are there any bills in Congress to raise SSI benefits?

Yes, there are standalone bills in Congress to raise SSI benefits, including raising benefits to the federal poverty line.

What is the marriage penalty for SSI recipients?

The marriage penalty refers to the reduced benefits that married couples receive compared to individuals.

How much could married couples receive in monthly SSI checks if benefits are raised to the federal poverty line?

Married couples could receive up to $2,562 in monthly SSI checks if benefits are raised to the federal poverty line.

How many SSI beneficiaries could benefit from these potential changes?

Approximately 8 million SSI beneficiaries could benefit from the potential changes in SSI benefits.

Timestamped Summary

00:00Introduction: Discussing the projections for SSI benefits in 2024.

01:45Projections suggest that the federal poverty line for 2024 could increase to $15,380.

03:00There are standalone bills in Congress to raise SSI benefits to the federal poverty line.

06:00A piece of legislation aims to remove the marriage penalty for SSI recipients.

08:30Raising benefits to the federal poverty line could result in an increase of $1,267 per month for married couples.

10:20Approximately 8 million SSI beneficiaries could benefit from these potential changes.