U.S. Senator Bob Casey, chair of the Senate Special Committee on Aging, co-introduced the bipartisan ENABLE Act, aiming to enhance the Achieving a Better Life Experience (ABLE) program, which he initiated in 2014. This legislation would allow people with disabilities and their families to save and invest in tax-free savings accounts without losing federal program eligibility. The ENABLE Act seeks to make three provisions of the ABLE program permanent: ABLE to Work, enabling additional contributions by employed individuals with disabilities; ABLE Saver’s Credit, offering a nonrefundable credit for qualified contributions; and 529 to ABLE rollovers, allowing funds to transfer from education savings accounts without taxation. These provisions, set to expire in 2025, support financial independence for individuals with disabilities.
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