Stephen Wira ABLE Act

Key Points

• This bill helps people with disabilities save more money for their future without losing their monthly government benefits. Right now, if someone has more than $100,000 in a special ABLE savings account, they might lose their Supplemental Security Income payments.
• The new plan would raise that savings limit to $150,000 starting in 2026. This change gives families more room to save for important needs like healthcare, housing, and specialized equipment.
• The savings limit would also go up every year to keep up with the rising cost of living. The government would check inflation prices and announce the new limit every November so people know how much they can safely keep in their accounts.
• This change is meant to help people with disabilities build better financial security. Under the old rules, many people were afraid to save too much money because they did not want to lose the help they rely on for daily expenses.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.