Senators Commit to Passing ABLE Act

On September 19, Senate Finance Committee Chairman Ron Wyden (D-OR), Ranking Member Orrin Hatch (R-UT), Senator Bob Casey (D-PA), and Senator Richard Burr (R-NC) released a joint statement updating the public on the Achieving a Better Life Experience (S.313 and H.R.647) ABLE Act status.  They indicated that the Senate has generated momentum and positive progress on passage of the bill.  The four Senators announced that as a result of bi-partisan collaboration, a policy agreement has been reached that will be the foundation for passing this legislation and obtaining Presidential signature in the lame duck Congressional session, which begins November 12, 2014.  Although no plan has been developed yet to pay for the $2.1 billion cost over 10 years, legislators are optimistic that agreement can be reached. The ABLE Act legislation, to allow people with disabilities to open tax-advantaged savings accounts, has been in development for eight years.

%d bloggers like this: