Issue Position: Financially Empowering Kentuckians With Disabilities

Issue Position

Kentuckians with disabilities have been a segment of our population that have not easily been able to save money.

Prior to the enactment of the Federal ABLE Act and its implementation in Kentucky via STABLE Kentucky, Kentuckians with disabilities could only save $2,000 at a time without losing important benefits they rely on. STABLE Kentucky is a savings and investment program that allows Kentuckians with a disability to save up to $15,000 annually without endangering benefits. I implemented this program (which cost other states millions of dollars) at no cost to Kentucky taxpayers by creatively working with the Ohio Treasurer's office. The funds are tax-free at the federal level, and thanks to a law that I championed in Kentucky, the funds are now tax-free at the state level, too. Friends and family members can contribute to an individual's STABLE Kentucky account, as well.

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