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Federal ABLE Act Needs Help to Pass

The "Achieving Better Life Experience Act," or ABLE Act is a bill would allow people with disabilities the ability to create special savings accounts where they could accrue as much as $100,000 without losing access to benefits like Social Security or Medicaid. The bill amends the Internal Revenue Code to establish tax-exempt ABLE accounts to assist an individual with a disability in building an account to pay for qualified disability expenses. It defines "qualified disability expenses" to include expenses for education, a primary residence, transportation, obtaining and maintaining employment, health and wellness, and other personal support expenses.

Senate bill: S.1872

House bill: H.R.3423