June 17, 2019
We, the undersigned organizations, write in support of the bipartisan Credit for Caring Act (S. 1443/H.R. 2730). Most of us are, have been, or will be a family caregiver or will need help to live independently. This is an ageless and nonpartisan issue.
Family caregivers are the backbone of services and supports in this country. They help make it possible for older adults, veterans, and people with disabilities to live independently in their homes and communities. About 40 million family caregivers provide about $470 billion annually in unpaid care to their loved ones. About 3.7 million family caregivers provide care to a child under age 18 because of a medical, behavioral, or other condition or disability. Family caregivers take on physical, emotional, and financial challenges in their caregiving roles. It is costly to family caregivers both in terms of out-of-pocket expenses paid to assist their loved ones and potential income and retirement savings foregone. An AARP report found that family caregivers spent, on average, nearly 20 percent of their income on caregiving expenses or nearly $7,000 in 2016. The assistance from family caregivers saves taxpayer dollars by helping to delay or prevent more costly nursing home care and unnecessary hospital stays.
The Credit for Caring Act would create a new, non-refundable federal tax credit of up to $3,000 for eligible family caregivers to help address the financial challenges of caregiving. Eligible working family caregivers caring for loved ones of all ages could receive the credit if the care recipient meets certain functional or cognitive limitations or other requirements. This tax credit would help family caregivers caring for loved ones who are not dependents or who do not live with them, unlike the current child and dependent care credit.
We should support family caregivers as they take on these costs and responsibilities associated with caregiving. We appreciate your bipartisan leadership and look forward to working with you to pass the Credit for Caring Act. If you have any questions, please contact Rhonda Richards at (202) 434-3770 or [email protected]
Alzheimer's Impact Movement
American Heart Association
Autism Society of America
Caregiver Action Network
Caregiver Voices United
Elizabeth Dole Foundation
Family Caregiver Alliance
Home Care Association of America
Independent Women’s Voice
Lutheran Services in America
National Alliance for Caregiving
National Council on Aging
National MS Society
Program to Improve Eldercare, Altarum