The ENABLE Act makes permanent several tax benefits for people with disabilities who use ABLE accounts, specialized savings accounts designed to help them pay for living expenses without losing eligibility for government benefits. Specifically, the bill removes expiration dates on two key provisions: it allows people to contribute more money annually to their ABLE accounts beyond the standard limit, and it permits families to roll leftover money from education savings accounts (529 plans) into ABLE accounts without tax penalties. The legislation also enables people to use contributions to ABLE accounts when claiming the Saver's Credit, a tax benefit for lower-income savers. These provisions were set to expire on January 1, 2026, but this bill makes them permanent, giving people with disabilities and their families long-term, stable tax advantages for managing their finances.
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