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US HR1896

US HR1896
ABLE to Work Act of 2017


summary

Introduced
04/04/2017
In Committee
04/04/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

ABLE to Work Act of 2017 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.

AI Summary

This bill, the ABLE to Work Act of 2017, amends the Internal Revenue Code to allow individuals with disabilities to contribute additional funds to their ABLE accounts (tax-exempt savings accounts for persons with a disability) if they are employed and earn income. Specifically, it allows ABLE account beneficiaries to contribute the lesser of their compensation or an amount equal to the federal poverty line for a one-person household, in addition to the regular annual contribution limit. The bill also provides a retirement savings tax credit for contributions made to an ABLE account.

Committee Categories

Budget and Finance

Sponsors (50)

Cathy McMorris Rodgers (R)* Brian Babin (R),  Don Bacon (R),  Joyce Beatty (D),  Michael Burgess (R),  Bradley Byrne (R),  Tony Cárdenas (D),  Steve Chabot (R),  Chris Collins (R),  Ryan Costello (R),  Rodney Davis (R),  Brian Fitzpatrick (R),  Jeff Fortenberry (R),  Vicente Gonzalez (D),  Gregg Harper (R),  Jim Himes (D),  Jared Huffman (D),  Bill Johnson (R),  Dave Joyce (R),  Marcy Kaptur (D),  John Katko (R),  James Langevin (D),  John Larson (D),  Blaine Luetkemeyer (R),  Sean Maloney (D),  Patrick Meehan (R),  Luke Messer (R),  Seth Moulton (D),  Stephanie Murphy (D),  Kristi Noem (R),  Eleanor Holmes Norton (D),  Tom O'Halleran (D),  Erik Paulsen (R),  Scott Peters (D),  Mark Pocan (D),  Bruce Poliquin (R),  James Renacci (R),  John Rutherford (R),  F. James Sensenbrenner (R),  Pete Sessions (R),  Chris Smith (R),  Steve Stivers (R),  Eric Swalwell (D),  Mike Turner (R),  David Valadao (R),  Greg Walden (R),  Maxine Waters (D),  Bonnie Watson Coleman (D),  Brad Wenstrup (R),  Kevin Yoder (R), 

Last Action

Referred to the House Committee on Ways and Means. (on 04/04/2017)

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