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Congress Weighing Tax-free Disability Savings Accounts – Disability Scoop

Anti-Tax Groups Take Online Sales Tax Campaign to Idaho

In testimony before the Senate panel, Sara Wolff, 31, who has Down syndrome, said that passing the ABLE Act would change her life. Under current law, Wolff and many others with disabilities cannot have more than $2,000 at any given time without forfeiting government benefits. As a result, Wolff said she works two jobs but is careful not to earn more than $700 a month even though shes capable of far more. Just because I have Down syndrome, that shouldnt hold me back from achieving my full potential in life. I can work a full-time job, be a productive member of society and pay taxes but because of these outdated laws placed on individuals with disabilities, people like me are held back in life, said the Moscow, Pa. resident who has amassed more than 250,000 signatures on an online petition calling on Congress to pass the bill. With widespread support from lawmakers in both political parties and the disability community, backers say they expect the ABLE Act to be fast-tracked and hope to have a bill on President Barack Obamas desk by the end of September. This is really the most popular piece of legislation in Congress right now, said Sara Weir, vice president of advocacy at the National Down Syndrome Society, who indicated the bill has 366 co-sponsors in the U.S. House of Representatives and 74 in the Senate. Next up, the House Ways and Means Committee is expected to consider the ABLE Act before sending it for a vote in the full House and Senate.
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Supporters of the ABLE Act say they expect Congress to move quickly in the coming weeks to approve the bill, which would offer people with disabilities more financial flexibility. (Thinkstock)

Idaho passed a law in April, creating a savings account for money that would be collected if the legislation passes Congress, which would then be used to cut state taxes. The Idaho Retailers Association, which backs the law, put out a news release Wednesday pointing this out. E-Fairness legislation can put Idaho business on a level playing field and provide a tax cut for our citizens a win-win for everyone, said association President Pam Eaton. Idaho Rep. Raul Labrador opposes the legislation, Mike Simpson favors it. Sens. Mike Crapo and Jim Risch have said they support it in principle, but they voted against it in 2013 because they wanted to see the small-seller exemption in the Senate bill expanded from $1 million to $3 million in gross sales, which it is in the House bill. Consumers are required to report untaxed online purchases on their state income taxes, but state tax commissioners told the Times-News editorial board a couple months ago that they are not enforcing this requirement. In 2012, fewer than 10,000 Idahoans reported these purchases, said the retailers association. The state Tax Commission has estimated Idaho is losing out on $46.4 million a year. Idaho state Rep.
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