June 27, 2024

Advocates, Stakeholders Praise Senator Schmitt’s Bipartisan ENABLE Act

WASHINGTON – Recently, Senator Eric Schmitt introduced the bipartisan Ensuring Nationwide Access to Better Life Experience (ENABLE) Act with Senator Bob Casey (D-PA), Senator John Boozman (R-AR), Senator Chris Van Hollen (D-MD), Senator Tom Cotton (R-AR), Senator Peter Welch (D-VT), Senator Tommy Tuberville (R-AL), Senator Tim Kaine (D-VA), Senator Katie Britt (R-AL), Senator Amy Klobuchar (D-MN), Senator Markwayne Mullin (R-OK), Senator Ron Wyden (D-OR), Senator Chris Coons (D-DE), and Senator Mike Lee (R-UT) to allow people with disabilities and their families to save and invest through tax-free savings accounts while protecting eligibility to federal programs like Medicaid and Supplemental Security Income (SSI):

“The ENABLE Act is a bipartisan opportunity to make life better for those with disabilities and opens doors for their families to find smart ways to save and access federal programs. Since my first day in public office, my son Stephen has inspired me to speak up and act for those who can’t – I’m proud of this bipartisan effort and excited to continue our work with the dozens of groups involved to push this bill across the finish line,” said Senator Eric Schmitt.

“MODDC appreciates Senator Eric Schmitt in his endeavors to further provide resources to people with developmental disabilities by using ABLE Accounts. MODDC and Senator Schmitt have worked tirelessly to make these accounts available to Missourians. It is important for Missourians to continue to have access to the benefits of ABLE accounts in our state. His recent efforts will safeguard this access in the future. All people deserve access to the ability to save and be financially secure,” saidDiana Willard, Missouri Developmental Disabilities Council Chair.

“Achieving financial independence is goal that everyone deserves to strive for,” said Missouri State Treasurer Vivek Malek. “Senator Schmitt championed the MO-Able program during his tenure as State Treasurer, helping Missourians with disabilities save and invest for their future. Thanks to this program, people with disabilities are empowered to secure employment and actively participate in society, embodying the spirit of the Show Me State. I commend Senator Schmitt for his dedication to safeguarding these opportunities through the ENABLE Act. His advocacy for those with special needs is a testament to his enduring commitment to justice and equality.”

“The Arc of the Ozarks wholeheartedly supports the ENABLE Act, permanently extending the provisions for ABLE accounts. This is a crucial step towards enhancing the lives of people with disabilities. This legislation represents a significant stride towards ensuring equal opportunities and improving the quality of life for individuals who often face unique financial challenges,” said Tim Dygon, Executive Vice President of The Arc of the Ozarks.

The ENABLE Act is supported by the National Down Syndrome Society, the ABLE Savings Plan Network (ASPN), the National Association of State Treasures (NAST), BPC Action, the Jewish Federations of North America, the American Network of Community Options and Resources (ANCOR), Autism Speaks, the Autistic Self Advocacy Network, the National Down Syndrome Congress, ABLE Today, the National Association of Councils on Developmental Disabilities (NACDD), and the Kansas Council on Developmental Disabilities.


  • There are over 162,000 Achieving a Better Life Experience (ABLE) accounts (or 529A accounts under the Internal Revenue Code). Created in 2014, these accounts 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). Individuals with ABLE accounts have saved $1.74 billion annually. There are three ABLE provisions set to expire in 2025:
    • 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.
    • ABLE Saver’s Credit: An individual with a disability who make qualified contributions to their ABLE account can qualify for a nonrefundable saver’s credit of up to $1,000.
    • 529 to ABLE rollover: An individual with a disability may rollover from a 529 education savings account to an ABLE account that are less than or equal to the annual ABLE contribution limit are not subject to income taxation.
  • The expiration of these provisions would create barriers for individuals with disabilities to save for their future needs, while also likely ensuring further utilization of federal safety net programs. As Congress is one fight away from not reauthorizing these noncontroversial provisions, ENABLE enshrines these provisions into law permanently providing certainty.
  • Senator Schmitt led the implementation of Missouri’s ABLE program when he served as State Treasurer. His son Stephen Schmitt, who has tuberous sclerosis, is on the autism spectrum, and has epilepsy, was account number one in Missouri’s ABLE program.

Bill text is attached.