WASHINGTON, D.C. –Today, U.S. Rep. Mike Carey (R-Ohio-15), a member of the House Ways and Means Committee, and U.S. Rep Linda Sánchez (D-Calif.-38), as well as U.S. Senators Shelley Moore Capito (R-W.Va.) and Michael Bennet (D-Colo.), reintroduced the Credit for Caring Act, bipartisan legislation that would offer a new tax credit of up to $5,000 for working family caregivers.

“We know that families want to support their loved ones through illness, disability and aging in place. The Credit for Caring Act offers relief to caregivers, allowing them to prioritize their loved ones and worry less about the effects on their family budget,” Rep. Carey said. “This tax credit would offset costs American families have to bear to care for their loved ones and provides flexibility to care for them in the way that works best for their family’s situation. I hope my colleagues join me in the effort to pass it.”

“Caring for both of my parents after they were diagnosed with Alzheimer’s has given me a personal understanding of the emotional, physical, and financial challenges families face when caring for a loved one,” Congresswoman Sánchez said. “Family caregivers – two-thirds of whom are women – often juggle work, family responsibilities, and the time and financial demands of caregiving. The Credit for Caring Act will ease some of these challenges by providing much-needed financial relief through a tax credit for home care and adult day care.”

“The Credit for Caring Act is 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,” Senator 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.”

“America’s family caregivers put family first, helping their parents, spouses and others stay at home,” Nancy LeaMond, AARP Executive Vice President and Chief Advocacy & Engagement Officer, said. “They spend thousands of dollars every year on this care, while juggling work and family responsibilities. We urge Congress to put money back into the pockets of hardworking family caregivers by passing the Credit for Caring tax credit.” 

“This crucial legislation offers much-needed financial relief for the invaluable contributions of family caregivers, who often sacrifice their own financial stability to care for loved ones, while juggling work and caregiving responsibilities,” AARP State Director Jenny Carlson said. “This act also represents a significant step towards supporting our aging population and ensuring that families can continue to provide high-quality care at home. It also benefits employers by reducing the financial strain on employees who balance work and caregiving responsibilities, leading to a more productive and engaged workforce. We urge Congress to pass this vital legislation, which will have a profound impact on the well-being of families, the economy, and the overall health of our communities.”

“AMAC Action, the advocacy affiliate of the Association of Mature American Citizens – with over 2 million members nationwide, proudly supports the Credit for Caring Act because family caregivers are the foundation of our nation’s long-term care system. Millions of Americans selflessly provide care for their loved ones, often at great personal and financial sacrifice. This legislation is a commonsense solution that provides much-needed relief to those who shoulder this responsibility. By easing the financial burden on caregivers, we can help ensure seniors receive the care they need while preserving their independence and dignity,” Andy Mangione, Senior Vice President of AMAC Action, said.

“With over 11 million Americans caring for a loved one living with Alzheimer’s, our nation must take action to help with the staggering financial toll of caregiving,” Robert Egge, AIM President and Alzheimer’s Association Chief Public Policy Officer, said. “Thank you to Rep. Carey and the other lead sponsors for introducing the bipartisan Credit for Caring Act, which will provide real help to family caregivers across the nation. We look forward to working with you to ensure this critical legislation is signed into law.”

BACKGROUND:

Caregiving is time-consuming, physically taxing, and it can also be expensive. Ohio family caregivers provide an estimate $16.8 billion in unpaid care, and the time spent providing care can take away time from other work.

Currently, family caregivers spend over $7,200 a year, on average, on out-of-pocket on caregiving expenses.

The Credit for Caring Act is supported by a number of groups, including: AARP, Alzheimer’s Association, Alzheimer’s Impact Movement, Home Care Association of America, AMAC Action, Family Business Coalition, and American Seniors Housing Association.

Rep. Carey previously introduced the Credit for Caring Act in the 118th Congress.

Full text of the bill can be found here.

Reprinted with permission from Mike Carey.

The opinions expressed by columnists are their own and do not necessarily represent the views of AMAC or AMAC Action.