SENATE 331117th CongressRead twice and referred to the Committee on Finance.
ABLE Age Adjustment Act
- Last Action
- 2/22/2021
Actions
- 2021-02-22Read twice and referred to the Committee on Finance.
- 2021-02-22Introduced in Senate
CRS Summary
As of 2021-02-22 (00)
ABLE Age Adjustment Act
This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)
Cosponsors (20)
- Jerry Moran (R-KS)
- Ron Wyden (D-OR)
- Chris Van Hollen (D-MD)
- John Boozman (R-AR)
- Richard Blumenthal (D-CT)
- Lisa Murkowski (R-AK)
- Roger Marshall (R-KS)
- Patrick Leahy (D-VT)
- Amy Klobuchar (D-MN)
- Patrick Toomey (R-PA)
- John Reed (D-RI)
- Ben Cardin (D-MD)
- Richard Durbin (D-IL)
- Sheldon Whitehouse (D-RI)
- Timothy Kaine (D-VA)
- Tammy Duckworth (D-IL)
- Sherrod Brown (D-OH)
- Richard Burr (R-NC)
- Dianne Feinstein (D-CA)
- Christopher Coons (D-DE)
Subjects
- Bank accounts, deposits, capital
- Disability and paralysis
- Income tax exclusion
Sourced from Congress.gov (public domain).
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