President Signs ABLE Act
On December 19, 2014, President Obama signed the ABLE Act into law. We are excited to be a part of history that will bring equality to those with a disability. This opportunity allows people with disabilities and their families, for the first time ever, to work and save for the future like people without disabilities!
It took a long 8-year effort to help educate Congress about the financial hardships facing people with intellectual and developmental disabilities. On December 18, 2014, Congress passed the ABLE Act in what is considered the most bipartisan bill that has come before the 113th Congress. ABLE stands for “Achieving a Better Life Experience”.
The ABLE Act allows people with disabilities and their family members to open tax advantaged savings accounts to save for their future without losing important benefits. The $2,000 asset limit has hampered many people with disabilities from being able to save more than $2,000 or earn more than $680 per month. Many people with disabilities work and want to save for a special item or educational opportunity and now, thanks to the passing of the ABLE Act, they will be able to!
Learn more at https://www.govtrack.us/congress/bills/113/hr647#summary/oursummary.