(Photo: J. Scott Applewhite Associated Press)
Rep. Cathy McMorris Rodgers, R-Wash., is a co-sponsor, and her son Cole, 7, who was born with Down syndrome, would qualify for an ABLE account. “Cole has helped me understand how too many times federal policies limit — not expand — opportunities for those with disabilities,” she said. “A vote on the ABLE Act brings us another step closer to empowering people with disabilities to reach their full potential.”
The bill is the biggest piece of legislation to affect disabled Americans since the 1990 Americans with Disabilities Act. It creates tax-exempt investment accounts for people born with disabilities to save for future expenses, such as education, transportation and maintaining a residence. The ABLE accounts are similar to 529 plans, which allow families to set aside money for a child’s college investment fund and would supplement coverage provided to disabled Americans under Medicaid and other assistance programs.