House Ways and Means Committee Passes the ABLE Act
WASHINGTON D.C.- Today, the House Ways and Means Committee approved H.R. 647, the Achieving a Better Life Experience Act of 2013, out of committee. The ABLE Act, introduced by Senators Burr (R-NC) and Casey (D-PA) in the Senate, would allow families with a severely disabled child the opportunity to save their own money in a tax-favored account, much like the 529 college savings account, to use toward covering their child's long-term expenses. Over three-quarters of the Congress has added their names to the ABLE Act as cosponsors.
"I am incredibly pleased that the House Ways and Means Committee passed the ABLE Act. This legislation is a commonsense measure that would help families and disabled individuals all across the United States. It is no wonder that it has garnered an unprecedented amount of support," said Senator Burr. "It is my hope that the full House will quickly bring the ABLE Act to the floor and vote for its passage."
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