Urges Congress to pass much-needed federal tax credit for nation’s family caregivers
WASHINGTON, DC, May 18, 2017 —AARP commends the sponsors of the bipartisan Credit for Caring Act that would help support America’s family caregivers by offering a federal tax credit of up to $3,000 annually for those who qualify. The Credit for Caring Act was introduced in the U.S. Senate (S. 1151) by Senators Joni Ernst (R-IA), Michael Bennet (D-CO), Shelley Moore Capito (R-WV), and Elizabeth Warren (D-MA), and in the U.S. House (H.R. 2505) by Representatives Tom Reed (R-NY) and Linda Sánchez (D-CA).
“Family caregivers often risk their own health and financial security in order to assist their parents, spouses and other loved ones. They tap into their savings accounts, stop saving for their future, and neglect their own health care,” said AARP Chief Advocacy and Engagement Officer Nancy LeaMond. “The Credit for Caring Act will help with the financial challenges faced by family caregivers today. AARP urges Congress to enact this bipartisan legislation this year.”
“AARP Iowa commends Senator Joni Ernst for her leadership to recognize and better support the more than 317,000 Iowa family caregivers who provide unpaid care to their loved ones every day,” said AARP Iowa State Director Kent Sovern. “Iowa caregivers, and the loved ones for whom they provide unpaid care, need solutions to help caregivers offset the sacrifices they make to provide care. While Iowa family caregivers report they wouldn’t have it any other way, according to a 2015 AARP survey of unpaid Iowa family caregivers, majorities report hardships paying for services out of their own pockets and modifying their work schedules to provide care. This legislation would give these eligible working family caregivers the opportunity to receive a tax credit acknowledging their extra burden.”
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