Pulaski Times

U.S. Senator John Boozman, along with Senators Eric Schmitt and Chris Van Hollen, has introduced the Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. This bipartisan legislation aims to make certain provisions related to Achieving a Better Life Experience (ABLE) savings accounts permanent.

ABLE accounts are designed to help Americans with disabilities and their families save money without affecting their eligibility for federal programs like Medicaid and Supplemental Security Income.

"Individuals with disabilities and their loved ones need flexibility to help meet financial needs. Giving them that opportunity is common sense and I’m pleased to support a bipartisan effort to ensure they can continue to save for the future and achieve financial security free from costly penalties," said Boozman.

Schmitt added, "I was proud to lead the introduction of the ENABLE Act in the 118th Congress, where this critical legislation passed the Senate. I entered public service to fight for people like my son Stephen. Stephen was born with a rare genetic disease, is on the autism spectrum, has epilepsy, and is non-verbal. I know firsthand how critical ABLE accounts are to individuals with disabilities and their families."

Van Hollen stated, "I worked alongside a bipartisan coalition to create the ABLE Program over a decade ago... Making these key ABLE provisions permanent will build on the success of the ABLE Act."

The ENABLE Act seeks to make permanent several provisions:

- 529 to ABLE Rollover: Allows tax-free rollovers from 529 education savings accounts into ABLE accounts.

- ABLE Saver’s Credit: Provides a nonrefundable saver’s credit of up to $1,000 for qualified contributions.

- ABLE to Work: Permits additional contributions by employed individuals with disabilities under specific conditions.

The bill is supported by Senators Tommy Tuberville, Tim Kaine, Katie Britt, Amy Klobuchar, Thom Tillis, John Fetterman, Dan Sullivan, Chris Coons, Raphael Warnock, Jerry Moran, and Mark Kelly.

In the House of Representatives, Congressmen Lloyd Smucker and Don Beyer have introduced companion legislation.