Representatives Ander Crenshaw (R-Fla.) and Chris Van Hollen (D-Md.), and Senators Robert Casey (D-Pa.) and Richard Burr, (R-N.C.) introduced the ABLE Act (H.R. 647/S. 313) in the U.S. House of Representatives and U.S. Senate, respectively.
The ABLE Act aims to help individuals with disabilities and their families save funds for future costs related to maintaining health, independence and quality of life, such as expenses for education, housing, transportation, employment support, health prevention and wellness, assistive technology and personal support. Just as Americans have tax-deferred savings accounts to help them save for college and retirement, the ABLE Act provides individuals living with disabilities the same types of savings tools for qualified expenses by amending Section 529 of the Internal Revenue Service Code of 1986 to create tax-free savings accounts, or “ABLE accounts.”
We are hopeful Congress will schedule to vote on the ABLE Act before the end of 2014, but we need your help to keep, momentum strong and ensure it passes this year. Please contact your elected officials in Congress, and let them know that you support the ABLE Act (H.R. 647 and S. 313) and urge them to make this a priority.
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