Stephen Wira ABLE Act

The Stephen Wira ABLE Act updates the rules for ABLE accounts, which are savings plans for individuals with disabilities to help cover qualified expenses without losing eligibility for government benefits like Supplemental Security Income. Specifically, it raises the asset limit for these accounts to $150,000 for the year 2026 and establishes a mechanism to automatically increase this limit in future years based on inflation. The bill also requires the Social Security Administration to calculate these new limits and publish them in the Federal Register by November 1 of the year before they take effect. This change directly affects people with disabilities and their families who rely on ABLE accounts to save money while maintaining their access to essential financial assistance.