Sen. Bob Casey discusses bipartisan act, financial security for people with disabilities

PITTSBURGH — Sen. Bob Casey was in Pittsburgh on Wednesday, where he held a special hearing at the University of Pittsburgh on financial security for people with disabilities.

Casey, who is also the chairman of the U.S. Senate Special Committee on Aging, held a hearing on Pitt’s campus highlighting how his ABLE Age Act, passed in 2014, has already helped thousands of Pennsylvanians with disabilities open ABLE accounts. This allows them to save money without risking the loss of their federal disability benefits.

Wednesday’s townhall also highlighted the senator’s bipartisan ABLE Age Adjustment Act, which would provide more than 6 million Americans — including veterans — the opportunity to open an ABLE account. ABLE accounts are designed to ease financial strains by making tax-free savings accounts available to cover expenses such as education, housing, and medical bills. This would also extend access to people who acquired their disability between 26 and 46 years of age.”We miss out on about 6 million Americans who were going to be eligible and one million of them are veterans, so we want to make sure to expand the benefits the ABLE act and keep it going in the right direction,” said Casey.

Colton, a senior at Duquesne University majoring in theater and acting, testified at Wednesday’s hearing. His mother, Candy Vasquez, said her son is able to use the funds for his education. “He wants to be a performer and he is saving his money for Australia to audition for the wiggles which is a Children’s performance group.”

According to Casey’s office, there are more than 6,750 ABLE account holders in Pennsylvania who, on average, have been able to save nearly $11,000. There are almost 120,000 ABLE account owners nationwide.

Casey said he hopes the bill is passed by the end of the year.

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