A bill to amend the Internal Revenue Code of 1986 to allow individuals with disabilities to save additional amounts in their ABLE accounts above the current annual maximum contribution if they work and earn income.
USA115th CongressS-818| Senate
| Updated: 4/4/2017
Richard Burr
Republican Senator
North Carolina
Cosponsors (15)
Thomas Tillis (Republican)Edward J. Markey (Democratic)Jerry Moran (Republican)Elizabeth Warren (Democratic)Tom Cotton (Republican)Amy Klobuchar (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Mike Rounds (Republican)Chris Van Hollen (Democratic)Christopher Murphy (Democratic)John Kennedy (Republican)Sherrod Brown (Democratic)Susan M. Collins (Republican)Patrick Toomey (Republican)
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
ABLE to Work Act of 201 7 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make additional contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Bank accounts, deposits, capitalDisability and paralysisEmployee benefits and pensionsIncome tax creditsIncome tax exclusion
A bill to amend the Internal Revenue Code of 1986 to allow individuals with disabilities to save additional amounts in their ABLE accounts above the current annual maximum contribution if they work and earn income.
USA115th CongressS-818| Senate
| Updated: 4/4/2017
ABLE to Work Act of 201 7 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make additional contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Richard Burr
Republican Senator
North Carolina
Cosponsors (15)
Thomas Tillis (Republican)Edward J. Markey (Democratic)Jerry Moran (Republican)Elizabeth Warren (Democratic)Tom Cotton (Republican)Amy Klobuchar (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Mike Rounds (Republican)Chris Van Hollen (Democratic)Christopher Murphy (Democratic)John Kennedy (Republican)Sherrod Brown (Democratic)Susan M. Collins (Republican)Patrick Toomey (Republican)
Finance Committee
Taxation
Related Bills
- S 115-1: An original bill to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fiscal year 2018.
- HR 115-1896: To amend the Internal Revenue Code of 1986 to allow individuals with disabilities to save additional amounts in their ABLE accounts above the current annual maximum contribution if they work and earn income.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Bank accounts, deposits, capitalDisability and paralysisEmployee benefits and pensionsIncome tax creditsIncome tax exclusion