Rep. Ander Crenshaw (R-Fla.) said on Tuesday that legislation he introduced to make tax-free savings accounts available to people with disabilities has recently gained momentum in Congress.
The Achieving a Better Life Experience (ABLE) Act would relieve financial stress on people with disabilities by allowing them access to tax-free savings accounts to cover expenses like education, housing, medical costs and transportation.
“With House Ways and Means Committee approval of ABLE, and a Senate Finance Subcommittee hearing on the landmark legislation, momentum is continuously building to turn this bill into law,” Crenshaw said.
The Down Syndrome Association of Jacksonville planned to honor Crenshaw on Thursday for his efforts to get the ABLE Act signed into law.
“This benchmark point would not be possible without the teamwork and dedication of groups like the Down Syndrome Association of Jacksonville,” Crenshaw said. “Individuals with disabilities deserve the same financial planning tools that other Americans enjoy, and we are closer than ever to making that happen. So many Northeast Florida families have joined me in getting us to this critical point, and I look forward to seeing them on Thursday in Jacksonville.”
The bill – which would supplement benefits provided through private insurance, the Medicaid program, the beneficiary’s employment and other sources -has 379 House co-sponsors and 74 Senate co-sponsors. The legislation is also supported by more than 100 local, state and national disability advocacy organizations.
Sen. Richard Burr (R-N.C.) introduced the Senate version of the bill.