Bank CEOs express support for Supplemental Security Income reform. 'This definitely should be fixed,' Jamie Dimon says
Publishing timestamp: 2023-12-06 16:16:28
Summary
Wall Street CEOs expressed support for updating the rules of the Supplemental Security Income (SSI) program, which provides benefits to elderly, blind, and disabled individuals with little to no income or resources. The program has not been updated in 40 years, leading to low asset limits that hinder saving and earning raises. A bill has been proposed to raise the asset limits and index them to inflation. The CEOs and lawmakers discussed the need for reform during a Senate Banking Committee hearing.
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Keywords: wells fargo & co, government welfare systems, legislation, poverty, consumer banking, personal investing, personal finance, citigroup inc, u.s. social security administration, jpmorgan drn, social security, business news, retirement planning, jamie dimon, family finances, personal saving, goldman sachs group inc, state street corp, morgan stanley, personal debt, employee benefits, government pensions and social security, bank of america corp,
Source: https://www.cnbc.com/2023/12/06/bank-ceos-show-support-for-ssi-reform-bill.html