Legislation for Tax-Free Savings Accounts for People with Disabilities

EDITORIAL from The Washington Post (June 13):

Equity for the Disabled
Tax-free savings accounts shouldn't be reserved for children with college in their future.

PARENTS WHO want help saving for their children's college education enjoy generous tax breaks. Parents of disabled children, including children who have little or no hope of going to college, receive no such benefit to help defray the enormous extra costs their children may incur.

Several pieces of legislation have been introduced in Congress to create tax-free savings accounts for people with disabilities. In the Senate, one version is sponsored by Sen. Christopher J. Dodd (D-Conn.) and another by Sens. Robert P. Casey (D-Pa.) and Orrin G. Hatch (R-Utah). A version similar to the Casey-Hatch bill was introduced in the House last month by Rep. Ander Crenshaw (R-Fla.).

Although they differ in some details, these measures would allow parents, other family members or those with disabilities themselves to put money into special accounts; the savings would grow tax free and would not be taxed when withdrawn to pay for qualified expenses...

...Read more.

Comments

[Mrs. Me]

As a disabled adult, i have watched others get all the breaks by laws passed. I did not get any economic stimulus check, though i definitely would have spent it all on necessities. instead of middle class people who might just put it in the bank. why? because i am disabled on ssi, i get no stimulus. i need it much more than many who received it.
So i applaud the efforts of the congress people who are trying to get the disabled some savings accounts, because we are miserably poor and hurting much more than the able. we sometimes can't do for ourselves and yet, can't pay anyone to do it either. we are the most endangered in terms of losing our housing, and even public housing. so the savings accounts would be the just thing to do. why does congress think disabled should be kept so poor that we get only $637 a month max, from ssi: and have to lose some benefits if we have any savings over $2000. or if we make more than $65 per month we have to pay back to the program! It should be way more than those amounts, that we can earn, receive, or save up without "penalty" (apt term, but why are we being penalized? we aren't criminals, we are disabled!). those amounts might go back so far in the distant past, that we can't remember when those were reasonable amounts---- if ever. Poverty may mean death to many disabled, and certainly means suffering for most. That's a terrible discrimination, time to get this rock off of us! I, and many others, might actually be more "productive" if we had improved living conditions, brought about by more material resources. Then maybe the government wouldn't have to support us so much. Upward spiral, I believe it is called.

[Mrs. Me]

As a disabled adult, i have watched others get all the breaks by laws passed. I did not get any economic stimulus check, though i definitely would have spent it all on necessities. instead of middle class people who might just put it in the bank. why? because i am disabled on ssi, i get no stimulus. i need it much more than many who received it.
So i applaud the efforts of the congress people who are trying to get the disabled some savings accounts, because we are miserably poor and hurting much more than the able. we sometimes can't do for ourselves and yet, can't pay anyone to do it either. we are the most endangered in terms of losing our housing, and even public housing. so the savings accounts would be the just thing to do. why does congress think disabled should be kept so poor that we get only $637 a month max, from ssi: and have to lose some benefits if we have any savings over $2000. or if we make more than $65 per month we have to pay back to the program! It should be way more than those amounts, that we can earn, receive, or save up without "penalty" (apt term, but why are we being penalized? we aren't criminals, we are disabled!). those amounts might go back so far in the distant past, that we can't remember when those were reasonable amounts---- if ever. Poverty may mean death to many disabled, and certainly means suffering for most. That's a terrible discrimination, time to get this rock off of us! I, and many others, might actually be more "productive" if we had improved living conditions, brought about by more material resources. Then maybe the government wouldn't have to support us so much. Upward spiral, I believe it is called.

[Mrs. Me]

that's really wierd, because i did not post that comment twice. but i did preview it then publish; and i did backtrack to it from another page?????

[catherine]

How about a tax credit?

Would love to see a tax credit linked to parenting a child with a developmental disability -- help offset the gasoline to medical appointments, missed work, etc.

[Joe]

Hello, - We more than agree,- the Disabled living in Poverty are so Discriminated against, many of us feel that we are not even recognized as U.S. Citizens. NO American Citizen, by no fault of their own, such as Disability, should ever have to live in Poverty in this Great Nation! As for SSI; -all States should at least provide adequate income, food, and their' own housing, to live a decent respectful Life. Ask the upper 50% in income, and all would laugh and/or cry if told that their maximum income to survive was less than $2,000 per month for a single person! What is wrong with Our Congress and President Bush. Economic Terrorism and Special $Interests are supported,- above the life & death struggles of Our least able Citizens! NO Poverty should ever be allowed of U.S. CITIZENS! AND THE jOKE OF RAISING SSDI 2.3% IN 2008! - An utter Disgrace and immoral treatment to us whom were forced to pay into Social Security Insurance as we worked for many years, before Disability! Even the common laborers in Saudi Arabia get much more income and benefits than the Disabled U.S. Citizens living in POVERTY! - Bush, Cheny, Bernanke, Greenspan, & Paulson should all be arrested for the Economic Terrorism They supprot against Our least able and poor. The so-called American Dream exists only for the top 30%. How Sad!! Our Founding Fathers Would be ashamed and up in arms long ago! "Fired-Up Patriot"- jward52