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Bob Casey Jr.: “It allows an SSI recipient to save up to $100,000 in assets.”

Featuring: Bob Casey Jr., Democratic | Former U.S. Senate, Pennsylvania

Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’

Published June 21, 2024 | Video Starts at 01:11

I passed in 2014 the ABLE Act. And this was one way to ensure that SSI recipients can save for the future or prepare for emergencies without risking benefits. It allows an SSI recipient to save up to $100,000 in assets. making it possible to buy a house or an accessible vehicle or even to go to college. As of this March, about 171,000 of the over 4 million SSI recipients have opened an able account and invested almost $2 billion. (01:11–01:17)

CLAIM

Asserts that the ABLE Act allows SSI recipients to save up to $100,000 in assets.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Bob Casey Jr.

“The $2,000 asset limit today has a purchasing power of only 630 bucks.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 00:45-00:53
“I passed in 2014 the ABLE Act.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 00:58-01:02
“As of this March, about 171,000 of the over 4 million SSI recipients have opened an able account and invested almost $2 billion.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 01:22-01:34
“The rate of the disability labor force participation has been increasing over the past five years.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 04:24-04:32
“The Bureau of Labor Statistics reports that the May labor force participation rate for people with disabilities was 41.7%, close to an all…”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 04:36-04:48
“Looking back 10 years, that participation rate has increased by over 30%.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 04:47-04:54
“The major program to encourage employment, the so called Ticket to Work program, has a very low participation rate.”
Casey Slams Low SSI Purchasing Power: ‘It’s A Barrier That Keeps People… Out Of The Labor Market’ | Uploaded June 21, 2024 | 05:08-05:16