ABLE Employment Flexibility Act

Hozzl · 2024-12-30T13:23:15Z

Explore the details of House Bill 10302 ABLE Employment Flexibility Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

12/30/2024, 1:23 PM

Summary of Bill HR 10302

Bill 118 hr 10302, also known as the ABLE to Work Act, is a proposed amendment to the Internal Revenue Code that would allow employers to contribute to ABLE accounts instead of traditional retirement plan contributions for their employees. ABLE accounts, or Achieving a Better Life Experience accounts, are tax-advantaged savings accounts for individuals with disabilities and their families.

The bill aims to provide individuals with disabilities more flexibility and financial support by allowing employers to contribute to their ABLE accounts. This would give individuals with disabilities the opportunity to save for future expenses related to their disability, such as education, housing, transportation, and healthcare.

By allowing employers to contribute to ABLE accounts in lieu of retirement plan contributions, the bill seeks to promote financial independence and security for individuals with disabilities. This could potentially help individuals with disabilities better plan for their future and alleviate some of the financial burdens they may face. Overall, the ABLE to Work Act is a proposed legislation that aims to provide individuals with disabilities more financial support and flexibility by allowing employers to contribute to their ABLE accounts. If passed, this bill could have a positive impact on the financial well-being of individuals with disabilities and their families.

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Current Status of Bill HR 10302

Bill HR 10302 is currently in the status of Bill Introduced since December 5, 2024. Bill HR 10302 was introduced during Congress 118 and was introduced to the House on December 5, 2024. Bill HR 10302's most recent activity was Referred to the House Committee on Ways and Means. as of December 5, 2024

Bipartisan Support of Bill HR 10302

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 10302

Primary Policy Focus

Alternate Title(s) of Bill HR 10302

To amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.To amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.

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Comments

Sponsors and Cosponsors of HR 10302

Sharice Davids

Kansas(Democrat)

Brian K. Fitzpatrick

Pennsylvania(Republican)

Latest Bills

ABLE Employment Flexibility Act

Summary of Bill HR 10302

Read the Full Bill

Current Status of Bill HR 10302

Bipartisan Support of Bill HR 10302

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 10302

Primary Policy Focus

Alternate Title(s) of Bill HR 10302

Comments

Sponsors and Cosponsors of HR 10302

Sharice Davids

Brian K. Fitzpatrick

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