Proposed bill to give disabled more financial independence passe - WDRB 41 Louisville News

Proposed bill to give disabled more financial independence passed in Congress

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Katie Croom has not let Down Syndrome slow her life. The 25-year-old is a college graduate and works part-time at a retail store. But current law restricts how much Katie can earn and save. Katie Croom has not let Down Syndrome slow her life. The 25-year-old is a college graduate and works part-time at a retail store. But current law restricts how much Katie can earn and save.

LOUISVILLE, Ky. (WDRB) -- The U.S. Senate has approved a bill that would make a significant impact on people with disabilities.

Current federal law restricts the amount people with special needs can earn and save to $2,000. Above that amount, they are no longer qualified for Medicaid or Social Security.

The new proposal is called the ABLE Act -- ABLE is short for Achieving a Better Life Experience -- and local advocates for the disabled have been pushing for its passage.

The ABLE Act allows people with disabilities to open tax-free savings accounts of up to $100,000 to pay for medical bills, transportation and housing without losing government benefits.

“The ABLE Act will help Kentucky families, children, and individuals living with disabilities save money for the future," Senator McConnell said in a statement Tuesday evening. 

The House and Senate approved legislation will now head to The President's desk to be signed.

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