{"database": "press", "table": "releases", "rows": [["http://www.reed.senate.gov/news/releases/reed-urges-congress-to-pass-able-act", "Reed Urges Congress to Pass ABLE Act", "2014-12-04", "2014", "2014-12", "Democrat", "House", "RI", "Jack Reed", "R000122", "www.reed.senate.gov", null, null, "legacy", "12/04/2014\u00a0\u2014\u00a0WASHINGTON, DC \u2013 In an effort to help individuals with long-term disabilities become more financially independent, U.S. Senator Jack Reed (D-RI) is urging Congress to pass the Achieving a Better Life Experience (ABLE) Act, which would allow tax advantaged savings accounts for care of those with disabilities and help parents of individuals with disabilities to save for their child\u2019s future needs.\r\nCurrent law makes it difficult for many adults with long-term disabilities such as Down syndrome or autism to save money to cover costs related to their disability without becoming ineligible for important support and benefits, such as Supplemental Security Income and Medicaid, if they hold more than $2,000 in total assets.\u00a0\r\nThe ABLE Act would allow individuals with disabilities or their beneficiaries to create a savings account similar to the 529 College Savings Account, which allow families to set aside money for a child's college investment fund.\u00a0 Under the Reed-backed ABLE Act, individuals could save up to $14,000 per year in their ABLE accounts, removing disincentives to work and allowing them to pay for their own health care and other long-term support services.\u00a0 ABLE accounts would supplement coverage already provided to Americans with disabilities under Medicaid and other assistance programs and help cover qualified expenses such as education, housing, medical, and transportation needs.\r\nInterest earned on savings within the ABLE accounts would be tax-free.\r\n\u201cCongress must work together to increase opportunities for citizens with disabilities.\u00a0 The ABLE Act would remove an outdated barrier and help more people with disabilities save for their future and reach their full potential,\u201d said Reed, an original cosponsor of the ABLE Act.\u00a0 \u201cFamilies should be able to equally care for their children and adults with disabilities, just like they can for their other family members.\u201d\r\nIn order to qualify, beneficiaries must have been diagnosed with a disability by age 26, and beneficiaries may only have one account.\u00a0\r\n\u201cThe ABLE Act is about ensuring fairness in the tax code and encouraging Americans with disabilities and their families to save for their future needs.\u00a0 I hope the Senate will soon vote on final passage of the bill before Congress adjourns for the year,\u201d concluded Reed.\r\nLast night the U.S. House of Representatives passed the bill with a strong bipartisan vote of 404-17.\u00a0 Now the U.S. Senate must act before Congress adjourns or the bill will go back to square one in the new Congress.\r\n\u00a0-end-\n\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\tPrint\n\t\t\n\t\t\n\t\t\t\n\t\t\tEmail\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t  \n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\tTweet", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://www.reed.senate.gov/news/releases/reed-urges-congress-to-pass-able-act"], "units": {}, "query_ms": 1.4643361791968346, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}