S. 4784, also known as the "Allowing Steady Savings by Eliminating Tests Act" or the "ASSET Act," aims to remove asset limits for eligibility in certain federally funded public assistance programs, such as Temporary Assistance for Needy Families (TANF), Supplemental Nutrition Assistance...
Simple Explanation
The ASSET Act wants to make it easier for families to save money by letting them keep getting help from programs like food stamps even if they have some savings. It also plans to let people who get a special type of money help called SSI have more savings without losing that help.