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Ros-Lehtinen Pleased To Co-Sponsor Bill That Creates Tax-Exempt Savings Accounts For The Specific Needs Of Individuals With Disabilities

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Date:
Location: Washington, DC

Congresswoman Ileana Ros-Lehtinen, a senior member of the Florida Congressional Delegation, is pleased to have co-sponsored the "Financial Security Accounts for Individuals with Disabilities Act (FSAID) of 2007," H.R. 2370.

Ros-Lehtinen is a strong supporter in Congress of legislative projects designed to help individuals with disabilities so her sponsorship of her colleague, Ander Crenshaw's bill, is yet another example of her proactive work on behalf of disabled persons. This legislation will allow families or those with disabilities to put money into special savings accounts; unlike most savings accounts, the savings would be tax-free and would not be taxed when withdrawn to pay for qualified expenses. The creation of an account for families with disabled individuals would tackle the current inequity in the tax code.

As important, they would enable families of people with disabilities to provide a financial cushion without endangering a recipients' eligibility for Medicaid and Supplemental Security Income benefits.

The FSAID Act has received endorsements from the National Down Syndrome Society, the Special Olympics, the National Down Syndrome Congress, the National Fragile X Foundation, Kennedy Krieger Hospital, and the Children's National Medical Center. The Senate introduced a similar bill called the Casey-Hatch bill that has already been sponsored by 100 Senators.

Ros-Lehtinen said, "I am honored to be a cosponsor of this important legislative project that seeks to help disabled individuals and their families establish savings accounts to defray the enormous extra costs involved in their care. I urge my colleagues to co-sponsor this bill and lend a hand to the countless families and individuals living with disabilities."


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