Casey, Families Push for Quick Vote On Bill to Allow Those with Disabilities Tax Advantaged Savings Accounts for Care

Casey Bill Could Soon Receive Vote in Both Chambers of Congress - Has Support of 70 Senators, 359 In House of Representatives / Legislation Would Create 529-Style Savings Accounts for Individuals with Disabilities Giving Peace of Mind, Financial Security to Families Facing Challenges like Autism, Down Syndrome / Families and Advocates from South Central PA Discussed What This Bill Means for Vulnerable Children

Casey, Families Push for Quick Vote On Bill to Allow Those with Disabilities Tax Advantaged Savings Accounts for Care

Harrisburg, PA- Today, U.S. Senator Bob Casey (D-PA), joined by families and advocates from South Central Pennsylvania, pushed for a quick vote on the Achieving a Better Life Experience Act (ABLE Act – S. 313/H.R. 647), which would allow tax advantaged savings accounts for care of those with disabilities. Casey’s legislation, the ABLE Act, could receive a vote in both chambers as soon as May and already has the support of 70 Senators and 359 members of the House of Representatives. Casey was joined by members of the community who have disabilities and would benefit from this bill, as well as Maureen Cronin, Executive Director of The Arc of Pennsylvania and Maureen Westcott, Executive Director for The Arc of Lancaster County.

“This piece of legislation will allow families to help their children have a better future,” Senator Casey said. “The ABLE Act now has support from a strong majority in both parties, in both the House and Senate, because it is a commonsense approach to help families save and pay for their loved ones’ long term care. Passing the ABLE Act will help give these families much needed peace of mind.”

The ABLE Act would amend Section 529 of the Internal Revenue Code to allow use of tax-free savings accounts for individuals with disabilities. The bill, first introduced in 2006, would ease financial strains faced by individuals with disabilities by making tax-free savings accounts available to cover qualified expenses such as education, housing, medical, and transportation. The bill would supplement, but not supplant, benefits provided through private insurance, the Medicaid program, the beneficiary’s employment, and other sources.

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