12.19.17

Sen. Burr on House Passage of Tax Reform, Including ABLE Act Enhancements

WASHINGTON – Today, Senator Richard Burr (R-NC), Senior Member of the Finance Committee, made the following statement on the House passage of the Tax Cuts and Jobs Act, which included the ABLE to Work Act and the ABLE Financial Planning Act:

“It has been three years to the day since the Achieving a Better Life Experience (ABLE) Act was signed into law and I’m incredibly proud that the ABLE to Work Act and the ABLE Financial Planning Act are included in the historic, soon-to-be passed Tax Cuts and Jobs Act.  These provisions will enhance the immensely popular ABLE Act by allowing disabled Americans the opportunity to work and save more money tax-free, without losing their needed benefits. They will also allow for savings in 529 college savings plans to be rolled over into ABLE accounts tax-free if an individual becomes disabled after a family has already started saving for college. Families and individuals with disabilities across the country will benefit tremendously from these provisions, and I’m pleased to see them included in the Tax Cuts and Jobs Act that passed the House earlier today, and will soon pass the Senate.”