Capito, Bennet Reintroduce Credit for Caring Act

WASHINGTON, D.C.— Today, U.S. Senators Shelley Moore Capito (R-W.Va.), Chairman of the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies (Labor-HHS), and Michael Bennet (D-Colo.), reintroduced theCredit for Caring Act. This bill would provide up to a $5,000 federal tax credit for eligible and working family caregivers.
“TheCredit for Caring Actis a great tool to help ease the financial burden caregivers face, and I am proud to join with my colleagues in reintroducing this bill that aims to accomplish that,”Chairman Capito said. “Like so many Americans, I helped care for both of my parents as they battled Alzheimer’s at the end of their lives, and therefore, I understand the emotional and physical toll it can take on individuals and families. By passing this bill, we can help caregivers focus more on their loved ones and less on how much it will cost them.”
“Family caregivers play a critical role in the lives of their loved ones, often at a significant financial cost to themselves. They have to balance jobs and family responsibilities, and still make ends meet at the end of the month,”Senator Bennet said. “Congress should make things a little easier for them. Our bipartisan bill will help ease the financial burden that many caregivers face in Colorado and across the country, and I’m grateful for the support of my colleagues in both chambers of Congress.”
U.S. Representatives Mike Carey (R-Ohio) and Linda Sánchez (D-Calif.) introduced companion legislation in House of Representatives.
BACKGROUND:
More than48 millionAmericans are caregivers, including over 250,000 in West Virginia andover 600,000 in Colorado. Caregivers provide approximately$600 billion in unpaid care each yearso that their parents, spouses, and other loved ones can continue to live independently.
TheCredit for Caring Actwould help cover the over $7,200 that many families spend yearly on out-of-pocket caring costs, such as home care aides, adult day care, respite care, transportation, and other supports.
Specifically, the bill would:
Full text of the bill can be foundhere.
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Tags:Health Care