Congressional Support for Family Caregivers
Financial Challenges for Family Caregivers
Congresswoman Jen Kiggans (VA-02) declared her backing for H.R. The bipartisan Credit for Caring Act is number 7165. The U.S. Congressman Mike Carey (OH-15) proposed this legislation. The U.S. House and Senator Michael Bennett (CO). Senate, seeks to provide a federal tax credit for people who pay for long-term care services for family members using their own money. A federal tax credit of up to $5,000 would be given to qualified and employed family caregivers under the proposed plan.
Congresswoman Kiggans, a geriatric nurse practitioner with experience in elder care, stressed the substantial time, energy, and financial resources that family caregivers invest in maintaining the health of their loved ones. She gladly supports the Credit for Caring Act, believing it to be a worthwhile answer for individuals who foot the bill for long-term care for family members.
Over 48 million Americans currently look after their parents, spouses, and other loved ones. The average annual cost of day care, in-home care, and transportation for these caregivers is $7,200.
Key Provisions of the Credit for Caring Act
The Credit for Caring Act recommends the following crucial clauses:
1. Give family caregivers a $5,000 nonrefundable tax credit; this benefit should be adjusted for inflation.
2. Apply to family caregivers’ expenses exceeding $2,000.
The bill has garnered additional bipartisan support, with co-sponsorship from Representatives Linda Sánchez (CA-38), Dan Kildee (MI-08), and Nanette Diaz Barragan (CA-44), as well as Senators Shelley Moore Capito (WV), Elizabeth Warren (MA), Susan Collins (ME), Margaret Hassan (NH), and Lisa Murkowski (AK). The Credit for Caring Act addresses the financial challenges faced by family caregivers and aims to provide meaningful support for those who contribute significantly to the well-being of their loved ones.
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