Media Center | Press Releases
For Immediate Release
Contact: John Stapleton 202.225.4436
Stutzman Supports ABLE Act
Washington, D.C. – U.S. Congressman Marlin Stutzman issued this statement following the passage of H.R. 647, the ABLE Act; a bill he co-sponsored.
“Individuals with disabilities often times face a long list of financial challenges and easing financial burdens on American families should always be a priority here in Washington. The legislation we passed today, the ABLE Act, will allow families and individuals to more easily save for long-term living and disability expenses.
“These ABLE accounts will help provide the necessary resources for families to pay for medical costs, post secondary education, transportation, and housing. For many of our vulnerable neighbors and friends this legislation will be a wonderful help, and is exactly the type of bi-partisan reform that our constituents expect from their elected officials.”
Background:
· Under H.R. 647, states would have the option to establish an ABLE program, under which eligible individuals with disabilities could start an ABLE account, modeled after current Section 529 savings accounts that are protected from certain types of taxation.
· H.R 647 passed the House of Representatives with wide bi-partisan support by a vote of 404-17.