Tagged with: bill Congress disability money savings
A new bill introduced in Congress would give families a better way to save money for people with disabilities, without taking away their government benefits.
The “H.R.3423 – Achieving a Better Life Experience Act of 2011” was designed to amend the Internal Revenue Code of 1986 to provide for “ABLE” accounts established under State programs for the care of family members with disabilities.
The National Down Syndrome Society, Autism Speaks, The ARC and other groups have worked with members of Congress to prepare the bill for discussion and debate. Until now in many places people with disabilities could not own more than $2,000 or they would lose their rights to Social Security, Medicaid and other government programs. This bill will adjust the tax code to allow for families with a PWD to create ABLE accounts the same way that they create 529 college savings plans for their college-bound children.
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