Larson Applauds Passage of ABLE Act
Washington - Rep. John B. Larson (CT-01) released the following statement today on the passage of H.R. 647, The ABLE Act of 2014, in the U.S. House of Representatives. The Act would create new savings accounts, known as a 529-ABLE Plan, that would allow families that have a child or children with disabilities save money tax-free to help pay for future costs associated with their child’s disability.
“For years I have heard from constituents like Andrew and Tamara Selinger of West Hartford advocate not only on behalf of their own family, but families across the nation who have children with disabilities. With two children diagnosed with Fragile X Syndrome, the Selingers simply want the same opportunities as other families with existing 529 plans – to have a savings mechanism that would enhance their children’s lives without minimizing services they already receive,” said Larson.
“I’ve also heard from individuals like Bob and Rosie Shea, Shannon Knall from my local Autism Speaks Chapter, and many other families and groups advocate on behalf of individuals with disabilities. Their passionate message is clear – this legislation is important not only for their children, but for children across Connecticut and the country.
“Despite the partisan rancor that often dominates Washington, passage of this measure shows that we can come together in a meaningful way to help the American people. I commend the efforts of my colleagues Representative Ander Crenshaw and Representative Chris Van Hollen for their leadership and steadfast commitment to moving this legislation forward. I’ve been proud to join the hundreds of members of Congress who’ve supported it as a cosponsor for a number of sessions and applaud its passage in the House today.”
The 529-ABLE Plans are similar to other 529 plans currently utilized by families to save for education costs. Larson has long advocated for passage of the ABLE Act, previously voting to pass it out of the Ways & Means Committee earlier this year.