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Capps Votes to Support Individuals with Disabilities
Rep. Lois Capps (CA-24) voted for the bipartisan Achieving a Better Life Experience (ABLE) Act, a bill she co-sponsored that would help level the playing field for individuals with disabilities by allowing their families to save for disability-related expenses.
Under current law, individuals with disabilities face significant barriers to living independently because their access to certain safety-net programs can be lost once they establish a minimum level of savings and income. Parents are then unable to provide savings for these children to use as they age. The bill (H.R. 647), which would allow these families to set up dedicated savings accounts for their children, passed 404-17.
Specifically, the ABLE Act would amend Section 529 of the Internal Revenue Service Code to create tax-free savings accounts for individuals with disabilities. Just as families are able to save money in tax-exempt accounts for children to go to college, the ABLE Act would allow similar accounts for individuals with disabilities to cover future education, housing, transportation, and other related expenses. The same types of flexible savings tools that Americans have through college savings accounts, health savings accounts, and individual retirement accounts would now be provided to people with disabilities, giving them and their parents peace of mind that they will have the funds needed to pay for their care as they age.
The bill would supplement, but not replace, benefits provided through Medicaid, private insurance, or employment.
This bipartisan, commonsense bill is an important step to help individuals with disabilities and their families as they age,” Capps said. “The ABLE Act will help break down barriers that often prevent individuals with disabilities from living independently. This bill is also a great example of Congress coming together in a bipartisan manner to recognize those who may need our help, and I am hopeful that this bipartisanship carries us forward into the next Congress.”
The ABLE Act is one more step, actually a giant leap, in the right direction of improving the ability of individuals with disabilities to become as self-sufficient as they are able,” said Dr. Debra Balke, member of the Board of Directors for the Central Coast Autism Spectrum Center. “The current system as it stands limits the ability of high functioning adults with disabilities to work towards financial independence from government support. For more affected individuals, families are unable to provide for loved ones without risk of losing needed services. The ABLE Act remedies these barriers and allows individuals and families to build a financial foundation from which they can endure unexpected or erratic expenses and provide stability and opportunity for the future.”
Part of our mission at Tri-Counties Regional Center is to maximize opportunities and choices for the people we serve,” Tri-Counties Regional Center leadership said. “The ABLE Act would give individuals with disabilities and their families access to accounts that would allow individual choice and control while protecting eligibility for Medicaid, SSI, and other important federal benefits for people with disabilities. We support the ABLE Act.”
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