What You Should Know About the ABLE Act

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Media Outlet: Vox

For many Americans living with disabilities, it has been a good week: now that the Senate passed the Achieving a Better Life Experience (ABLE) Act this week (following the House's passage in early December) it is now on its way to the President to be signed into law. The ABLE Act creates tax-advantaged savings accounts for use by individuals with disabilities. Critically, savings in ABLE accounts won't disqualify those individuals from receiving public assistance. While the bill is a win for many individuals with disabilities and their families, there are millions of others who are left out and need additional measures to pursue the same goals — financial security and upward economic mobility.

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Justin King is policy director of the Family-Centered Social Policy program at New America. In this position, he works to develop and advance innovative public policies that expand economic opportunity by broadening access to high-quality financial products, increasing savings and growing asset ownership.