medical expense deductions

two mature women mother and daughter-in-law
The North Carolina House and Senate have major differences in their budget bills when it comes to meeting the needs of family caregivers and those with high medical costs. Earlier this month, the House approved budget reinstated the NC medical expense tax deduction that helps protect people from the impact of high medical expenses. They also restored one million dollars in funding that was taken away from the Home and Community Care Block Grant program that supports programs that help people age in their own homes.
Utility couple
When the state Senate revealed its budget proposal Monday night, it did NOT include fully-restored, uncapped medical deductions, or increased funding for the Home and Community Care Block Grant that helps people live independently in their own homes.  Instead, the Senate proposed a $20,000 combined cap for all itemized deductions and no change to the Block Grant funding.
empty_wallet
In the past, the state budget debate may have been something North Carolina’s non-political junkies generally overlooked or did not closely follow. But this legislative session, more age 50-plus voters have been paying close attention because tax law changes that went into effect hit them where it counts, right in the pocketbook.
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