US SB2702 | 2015-2016 | 114th Congress
Status
Sponsorship: Bipartisan Bill
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
ABLE to Work Act of 2016 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 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.
Title
ABLE to Work Act of 2016
Sponsors
| Sen. Richard Burr [R-NC] | Sen. Robert Casey [D-PA] | Sen. Jerry Moran [R-KS] | Sen. Tom Cotton [R-AR] |
| Sen. Amy Klobuchar [D-MN] | Sen. Christopher Murphy [D-CT] | Sen. John Boozman [R-AR] | Sen. Edward Markey [D-MA] |
| Sen. Richard Blumenthal [D-CT] | Sen. Kirsten Gillibrand [D-NY] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-17 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB4795 (Same As) 2016-03-17 - Referred to the House Committee on Ways and Means.
Subjects
Bank accounts, deposits, capital
Disability and paralysis
Employee benefits and pensions
Income tax credits
Income tax exclusion
Taxation
Disability and paralysis
Employee benefits and pensions
Income tax credits
Income tax exclusion
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/2702/all-info |
| Text | https://www.congress.gov/114/bills/s2702/BILLS-114s2702is.pdf |
