U.S. Senator Katherine Cortez Masto introduced the SSI Savings Penalty Elimination Act, which aims to raise the Supplemental Security Income (SSI) asset limit from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for couples. The bill, which has bipartisan support, would also guarantee regular adjustments for inflation and is expected to make over 200,000 Americans newly eligible for the program.

The Center Square reports:

More than 7 million Americans and 50,000 Nevada residents receive monthly payments from the Social Security Administration’s Supplemental Security Income program for the elderly and people with significant disabilities.

The SSI program is intended for people with little money or income. Signed into law under President Richard Nixon’s administration, the program sets the maximum finances for somebody to receive help from SSI at $2,000 – and $3,000 for a married couple. Today, an elderly disabled person with $2,500 in total value of all of their assets is still deemed too well-off to receive any money through this program.

“A $2,000 rainy-day fund doesn’t go as far as it did in 1989, but that’s all the savings that people who rely on SSI benefits are allowed,” said U.S. Sen. Katherine Cortez Masto, D-Nevada, who helped introduce the SSI Savings Penalty Elimination Act.

“We shouldn’t punish people who are working hard, saving their money and planning for the future,” Cortez Masto said in a news release. “Congress must raise the SSI asset limit to help our seniors and Americans with disabilities.”

The SSI code was last adjusted for inflation in 1989, which has left the asset limits at $2,000 and $3,000 for over four decades. The maximum monthly payment for an individual this year is $967.

The SSI bill would give the asset minimums a modern update – from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for couples.

“Raising the SSI asset limits is a smart, long-overdue reform that updates a critical program to reflect today’s economic realities,” said U.S. Rep. Fitzpatrick, R-Pennsylvania, who proposed a companion bill to the House of Representatives.

The increased asset limit would be expected to make over 200,000 Americans newly eligible for the program.

The bill would also guarantee regular asset limit adjustments for inflation. That would be based on the Consumer Price Index change over year, with no option for the asset limit to decrease. That means the $10,000 and $20,000 limits would be expected to rise in coming years.

But the bill will not change monthly payments. The highest monthly assistance an individual could receive is $967.

The bill has received support from lawmakers, organizations and businesses from across the country.

“The big thing is that this is a common sense fix,” said a spokesperson for Cortez Masto.

“It has bipartisan support. You’ve also got support from so many organizations and groups,” the spokesperson told The Center Square.

The bill does not yet have a hearing date.

Chevron has been ordered by a jury to pay $744 million in damages for its role in Louisiana’s coastal wetland degradation. The verdict, the first of 42 lawsuits, marks a significant step in addressing the state’s rapid coastal erosion. However, the oil and gas industry warns the ruling could harm the state’s economy and deter future investment.

The Center Square reports:

In a historic decision with sweeping implications for Louisiana’s energy sector and environmental restoration efforts, a jury in lower Plaquemines Parish on Friday ordered Chevron to pay $744 million in damages for its role in the degradation of the state’s coastal wetlands.

The verdict marks the conclusion of the first trial among 42 lawsuits filed since 2013 by parishes across coastal Louisiana. The lawsuits allege that decades of oil and gas activity – primarily canal dredging and other infrastructure work –violated state permitting laws and accelerated the state’s catastrophic land loss.

The case, Plaquemines Parish v. Chevron USA, Inc., is the first of its kind to go before a jury. Chevron was sued as the successor to Texaco, whose operations in the parish date back decades.

“This is about responsibility,” said lead parish attorney John Carmouche. “If somebody causes harm, fix it.”

Chevron argued the lawsuit was flawed, claiming that the activities in question were permitted, legal, and often conducted under federal direction – particularly those tied to national security during World War II.

The company also sought to move the case to federal court, a request repeatedly denied over the years, with the U.S. 5th Circuit Court of Appeals affirming its place in state court in 2022.

Plaquemines Parish sought nearly $3 billion in damages. Environmental advocates and plaintiffs’ attorneys say the ruling could open the door to billions more in damages across the remaining lawsuits.

The verdict drew sharp criticism from Louisiana’s oil and gas industry and its allies, who warned the ruling could have dire consequences for the state’s economy.

“Today’s verdict not only undermines Louisiana’s position as an energy leader, but but also threatens our country’s trajectory at America-first energy dominance across the globe,” Tommy Faucheux, president of the Louisiana Mid-Continent Oil & Gas Association, said. “These lawsuits were never about restoring the coast. As the number one private investor in our working coast, the energy industry is already doing that. Instead, this is a deep-pocketed trial lawyers driving baseless lawsuits hoping to make millions in legal fees. Today’s decision is sacrificing the livelihoods of our families, friends and neighbors to give these trial lawyers their big payday.”

Continue reading