Congressman Ander Crenshaw (R-FL) and Senator Robert Casey (D-PA) today (2/13) re-introduced the Achieving a Better Life Experience Act (ABLE Act) – bipartisan legislation to create an improved quality of life for individuals with disabilities through tax-free savings accounts.The release includes statements from Crenshaw, and Senate sponsor Robert Casey (D-PA), as well as cosponsors Senator Richard Burr (R-NC), Rep. Cathy McMorris Rodgers (R-WA) and Chris Van Hollen (D-MD).
The ABLE Act would amend Section 529 of the Internal Revenue Service Code of 1986 to create tax-free savings accounts for individuals with disabilities. The bill, first introduced in 2006, aims to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available to cover qualified expenses such as education, housing, and transportation. The bill would supplement, but not supplant, benefits provided through private insurances, the Medicaid program, the supplemental security income program, the beneficiary’s employment, and other sources. Upon introduction, the legislation has earned 59 original House co-sponsors and 16 original Senate co-sponsors and is backed by more at least 50 local, state, and national disability advocacy groups , including the National Down Syndrome Society, The Arc, and Autism Speaks.
The House bill is HR 647. The Senate bill is S 313.