Letter to Jack Lew, Secretary of the Department of the United States Treasury - Ways to Improve the Able Act

Letter

Dear Secretary Lew:

On December 19, 2014, the Achieving a Better Life Experience Act, or ABLE Act, was signed into law. This historic legislation gives people with disabilities or their families the opportunity to plan and save for the future through the creation of new tax-advantaged savings accounts. The money saved can help cover expenses--including those for education, housing and wellness--without jeopardizing access to other support they count on. We worked with a broad bipartisan coalition to get this bill passed and are hopeful families can realize its benefits soon.

States across the nation have been quick to take steps toward implementing the ABLE Act. Since January, in fact, twenty-five states have passed ABLE implementation legislation. In Pennsylvania and North Carolina, bipartisan legislation has been introduced. In Minnesota, Governor Mark Dayton recently signed into law a bill to establish an ABLE Act program in the state.

We understand the Department of the Treasury is working on implementing regulations for the ABLE Act, which includes developing the specific rules under which an ABLE account may be opened, as well as the scope of eligible expenses. The law provides six months for the completion of these rules. We urge the Treasury Department to develop its rules without delay so that states can have clear guidance moving forward to launch ABLE programs.

Thank you for your attention to this important issue. By working together, we will improve the lives of people living with a disability and help provide peace of mind to their families in our states and across the nation.

Sincerely,

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