Proposed Tax Credit for Caregivers of Persons with Disabilities
A bill introduced in the U.S. House of Representatives recently would allow family members who care for older people and those with disabilities to receive up to $3,000 in tax savings annually. Caregivers would be eligible if they are working and earning $7,500 per year, or more. The tax credit would offset expenses for groceries, home modifications, transportation and hired help to care for individuals with long-term care needs. The legislation is being called the Credit for Caring Act.
“This is more than just another tax credit,” said U.S. Rep. Linda Sánchez, D-Calif., who introduced the legislation along with U.S. Rep. Tom Reed, R-N.Y. “This is about how we can help older adults and people with disabilities live independently in their own homes and communities.”