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U.S. Representatives Debbie Dingell (D-MI-06) and Derek Schmidt (R-KS-02) introduced the bipartisan ABLE MATCH Act (Making Able a Tool to Combat Hardship), which would help more Americans with disabilities build financial security through Achieving a Better Life Experience (ABLE) savings accounts.

"Financial independence shouldn’t be out of reach for individuals with disabilities,” Congresswoman Dingell said. “By reintroducing the ABLE MATCH Act, we are taking a crucial step toward economic security by matching the hard-earned savings of ABLE account beneficiaries through a refundable tax credit."

The legislation would establish a federal matching contribution for eligible low- and moderate-income individuals who save in ABLE accounts, allowing beneficiaries to receive up to a 100 percent federal match on the first $2,000 they contribute annually, subject to income limits. The federal matching funds would be deposited directly into the beneficiary's ABLE account, helping individuals save for disability-related expenses without jeopardizing eligibility for critical benefits.

"ABLE accounts have provided many individuals with disabilities and their families an important tool to save for the future, but too many people still struggle to set aside money because of financial pressures," Congressman Schmidt said. "This bipartisan legislation helps make those savings go further by strengthening and expanding this successful program. Every Kansan deserves the opportunity to build greater financial security.”