The New York Times today highlighted the Achieving a Better Life Experience (ABLE) ACT that was signed into Law by President Obama on December 21st. This bill will allow tax-free savings accounts to help individuals and families cover lifetime disability expenses.
Stuart Spielman, Senior Policy Advisor at Autism Speaks answered questions about this important piece of legislation and what it means for the disability community that you can read here.
In the story, The New York Times emphasizes that withdrawals from these tax-free savings accounts will not be taxed as long as the money is spent on expenses that focus on the well being of these individuals such as housing, education, health care, etc.
Autism Speaks President Liz Feld said on the passing of ABLE, “We celebrate passage of this historic bill that will provide families with disabilities with what they deserve: a chance to help themselves. As 50,000 kids with autism age into adulthood every year, the passage of ABLE could not be timelier”.