by Ripon Advance Reports:
House Financial Services and General Government Appropriations Subcommittee Chairman Rep. Ander Crenshaw (R-Fla.) called on Congress on Wednesday to pass the Achieving a Better Life Experience Act, which would provide people with disabilities access to tax-free savings accounts.
The ABLE Act has 305 cosponsors in the House and 50 cosponsors in the Senate. More than 50 local, state and national groups that advocate for people with disabilities have also supported the measure.
“Support for tax-free savings accounts for individuals with disabilities stands at its highest level ever — testament to the tireless dedication of those who believe that all Americans deserve equality when it comes to financial planning tools,” Crenshaw said. “It’s time to pass this legislation and create a brighter future for those in need.”
The bill is intended to relieve financial stress faced by people with disabilities by allowing tax-free savings accounts to cover certain expenses, including education, housing, medical costs and transportation.
Sen. Richard Burr (R-N.C.) called the ABLE Act a “commonsense piece of legislation.”
“…(The ABLE Act) provides individuals with disabilities and their families with the resources to plan for a sound financial future while continuing to improve the quality of their lives today,” Burr said. “I am pleased to see such overwhelming bipartisan, bicameral support for this important bill and look forward to its consideration in the Senate.”