WASHINGTON, D.C. – December 4, 2014 – (RealEstateRama) — Congressman Brett Guthrie today voted in support of H.R. 647, the Achieving a Better Life Experience (ABLE) Act.
H.R. 647 will create tax-free savings accounts for individuals with disabilities. These accounts will be able to be applied toward qualified expenses including: medical, post-secondary education, assistive technology, housing, transportation, legal fees and funeral expenses.
“This bipartisan legislation empowers disabled individuals and their families to save money for these necessary expenses, while transitioning away from government assistance,” said Congressman Guthrie. “H.R. 647 not only allows individuals to better plan for the future, it will also improve their quality of life.”
The tax-free savings accounts would be established and maintained at the state level. Individuals who are diagnosed with a disability before the age of 26 would be eligible.
“Across the country, the American people are looking for certainty, and that includes families of disabled individuals. This commonsense legislation levels the playing field and allows families to better prepare for the future,” added Congressman Guthrie.