As your constituent, I am writing to urge you to sign on as a cosponsor of the Disability Savings Act of 2008 (S. 2741). This bill was introduced by Senator Chris Dodd in March 2008.
The Act is designed to encourage individuals with autism (and other disabilities) and their families to save for disability-related expenses. It is meant to supplement rather than to replace benefits provided by other sources (including Medicaid and private insurance). In fact, S. 2741 authorizes specific “Disability Savings Accounts,” which are similar in many respects to existing 529 college savings plans. Provided certain rules are met, Disability Savings Accounts will be exempt from federal taxation.
Currently 1 in 150 children are diagnosed with autism and the financial costs are daunting to most families. This is why these savings accounts are so vitally important. They will help to reduce an unreasonable financial burden for millions of families and make the Internal Revenue Code more fair. Right now, parents can save, tax-free, to send a child to college. S. 2741 will allow parents to save, tax free to meet the life needs of a child with autism.
I urge you to become a cosponsor of the Disability Savings Act of 2008, S. 2741, and help children with autism live full and productive lives for all their years.
I need to pay more attention. I didn't know about the Disability Savings Act of 2008, but legislation like this is desperately needed. We would love the opportunity to save responsibly to help meet Jimmy's potential needs as an adult with a disability. Each boy has a college account that we fund, but funding Jimmy's is bittersweet as we will likely
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