Able Act (H.R.1205 / S.493)
The Achieving a Better Life Experience Act of 2009 (ABLE Act) is bipartisan legislation introduced to allow individuals with disabilities and their families to create tax-exempt savings accounts similar to Individual Retirement Accounts (IRA) and 529 College Savings accounts to save for the added expenses they will experience over their lifetimes.
Able Act bill text. Up-to-date bill status
The Achieving a Better Life Experience Act (ABLE) bill, allows for the creation of tax-advantaged disability savings accounts for individuals with Down syndrome, without risking losing benefits.
Current Status: Through a partnership with the Down Syndrome Association of Northern Virginia (DSANV), and the CPSD, NDSS led a successful effort to reach consensus within the disability community, the Senate, and the House to introduce the bill. NDSS and the coalition supporting the ABLE bill are in the process of increasing the number of sponsors in the House and Senate. Currently, co-sponsors include 148 members of the House of Representatives and 14 members of the Senate. Because of tenacious advocacy, we are hopeful that the House Ways and Means Committee and the Senate Finance Committee will take up the ABLE bill in 2010. Permitting families and individuals to save money will transform possibilities for the recipients of the Social Security Supplemental Income (SSI) and the Social Security Disability Income (SSDI) programs which for decades have not permitted recipients to have assets of more than $2,000.
ABLE Act Advocacy Alert (2/10/14)
ABLE Act Advocacy Alert (8/16/13)
DSA Able Act Advocacy Alert(5/3/12)
DSA Help Pass ABLE Act Alert (9/11/12)
NDSS ABLE Act webpage