Senator Schmitt’s Landmark ENABLE Act Passes U.S. Senate

Bill Expands Savings Accounts for People with Disabilities

WASHINGTON – U.S. Senator Eric Schmitt (R-MO) celebrated the historic Senate passage of his legislation, the Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. This legislation supports those with disabilities and their families by saving several key provisions related to Achieving a Better Life Experience (ABLE) accounts that were set to expire at the end of 2025. There are over 162,000 ABLE accounts, which allow people with disabilities and their families to save and invest through tax-free savings accounts without losing eligibility for federal programs like Medicaid and Supplemental Security Income (SSI). The ENABLE Act passed the Senate as part of the One Big Beautiful Bill after Senator Schmitt worked to get it included.

“Individuals with disabilities and their families deserve stability and financial security as they plan for their future. My ENABLE Act will expand savings and investment opportunities, giving families and Missourians with disabilities the certainty they deserve. I am grateful for the support of my colleagues and look forward to seeing President Trump sign this important legislation into law,” said Senator Eric Schmitt.

BACKGROUND:

1. There are three ABLE provisions set to expire at the end of 2025:
   1. ABLE to Work: An individual with a disability who is employed can contribute an additional amount to his or her ABLE account. This additional contribution cannot be greater than either: the prior year’s federal poverty level for a one-person household ($15,060 in 2024), or the beneficiary’s yearly compensation.
   2. ABLE Saver’s Credit: An individual with a disability who makes qualified contributions to their ABLE account can qualify for a nonrefundable saver’s credit of up to $1,000.
   3. 529 to ABLE rollover: An individual with a disability may roll over from a 529 education savings account to an ABLE account that is less than or equal to the annual ABLE contribution limit are not subject to income taxation.
2. Since its inception, individuals with ABLE accounts have saved $1.74 billion per year, a testament to the success of this program. This is life changing and empowers individuals with disabilities to secure employment and actively participate in society.
3. The ENABLE Act permanently codifies these provisions into law, providing much-needed certainty to those individuals and their families.

The ENABLE Act is supported by Autism Speaks, Edward Jones, the National Down Syndrome Society, the ABLE Savings Plan Network (ASPN), Microsoft, The National Association of Insurance and Financial Advisers (NAIFA), Cure SMA, the Muscular Dystrophy Association, the National Association of State Treasures (NAST), BPC Action, ABLE Today, National Down Syndrome Congress, the National Disability Institute, the ABLE National Resource Center, ABLE Americans, the Kansas Council on Developmental Disabilities, 2Gether-International, the Association of University Centers on Disability, the Autism Society of America, the National Federation of the Blind, Global Connections for Employment, Melwood, the American Network of Community Options and Resources (ANCOR), the Down Syndrome Network of West Virginia, the Black Down Syndrome Association, the Down Syndrome Association of Greater Winston-Salem, the Down Syndrome Association of Northeast Indiana, the Down Syndrome Organization of Southern Nevada, the North Carolina Down Syndrome Alliance, the Down Syndrome Association of Greater New Orleans, the Down Syndrome Association of Connecticut, the Down Syndrome Indiana, the Kern Down Syndrome Network, the California Down Syndrome Advocacy Coalition, the California Down Syndrome Advocacy Coalition, the Down Syndrome Network of Greater Greensboro, the Down Syndrome Group of the Ozarks, the Down Syndrome Alabama, the Down Syndrome Association of Brevard, Inc., the Down Syndrome Association of Southern New Jersey (DSASNJ), the Down Syndrome Association of Houston, the Down Syndrome Indiana, the Down Syndrome Association of Central Texas, the Down Syndrome Diagnosis Network, the Down Syndrome Association of Northeast Ohio, the Down Syndrome Innovations, the Down Syndrome Association of Middle TN (DSAMT), the Down Syndrome Advocacy Foundation, the Down Syndrome Support Team, the National Association for Down Syndrome, the Down Syndrome Alliance of the Midlands, the Upside of Downs of Aiken, the Parents of Children with Down Syndrome of Prince George’s County MD, the Down Syndrome Society of Wichita, Inc., and the Down Syndrome Association of Pittsburgh.

Missouri State Treasurer Vivek Malek: “As administrator of the Missouri Achieving a Better Life Experience (MOABLE) Program, I applaud Senator Schmitt for championing the ENABLE Act. This commonsense legislation will help break down barriers that have too often prevented individuals with disabilities from fully accessing the benefits of employment. By allowing employers to contribute to ABLE accounts in lieu of traditional retirement plans, the ENABLE Act ensures that workers with disabilities are not forced to choose between meaningful employment and critical federal benefits. It recognizes that financial independence should never come at the cost of security. This is a tremendous step forward for families across Missouri—and for the thousands of MOABLE participants who rely on this program to build a more stable future. I thank Senator Schmitt for his leadership and look forward to working together to expand the impact of ABLE in our state and across the nation.”

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