THE CREDIT FOR CARING ACT:
What You Need to Know
Background: On May 17, 2017, this bi-partisan proposed bill introduced in the U.S. House and Senate called the Credit for Caring Act, (S.1151/H.R. 2505) would amend the Internal Revenue Code to create a federal, nonrefundable tax credit of up to $3,000 for family caregivers who work while also financially help and assist in caring for their parents, spouses, children with disabilities or other loved ones. Introduced by Senators Joni Ernst (R-IA), Michael Bennet (D-CO), Shelley Moore Capito (R-WV) and Elizabeth Warren (D-MA), and Representatives Tom Reed (R-NY) and Linda Sánchez (D-CA), this bill is an important step toward supporting caregivers that work while caring for family members. AARP and other national organizations have endorsed the Credit for Caring Act. This bill would help defray some of the costs to family caregivers, 78 percent of whom use their own money to assist with caring for a loved one, and help ensure that they can continue working.
Issue: Today, over 40 million Americans provide long term assistance and care for adult loved ones today. Unpaid caregiver costs are estimated to be valued at a staggering $470 billion dollars annually (more than total Medicaid spending in 2013). In addition, an estimated 3.7 million family caregivers provide care to a child younger than 18 with a medical, behavioral or other condition or disability, and 6.5 million family caregivers assist both adults and children. Family caregivers as-sist with necessary daily life functions, including bathing and dressing, preparing meals, manag-ing medications, driving to appointments, and managing finances. (Source: AARP 2016 Survey Report)
What will the Bill Do?
- The Bill would give eligible family caregivers the opportunity to receive a tax credit for 30 percent of the qualified expenses above $2,000 paid to help a loved one, up to a maximum credit amount of $3,000 if the caregiver meets the following criteria:
- Is a spouse, adult child, parent or another relation named under the “dependent” definition
- Helps a loved one, of any age, who meets certain functional or cognitive limitations or other requirements, as certified by a licensed health care practitioner
- May or may not live with the loved one
- Have more than $7,500 in earned income for the taxable year, and
- Can document qualified expenses.
- Index certain dollar amounts and income levels to inflation
- Coordinate with other existing tax provisions to prevent double dipping, and
- Phase out at higher income levels.
Status of the Bill:
This bill was referred to the House, Ways and Means Committee.
What You Can Do:
- Attend a Town Hall in your congressional district
- Contact Your U.S. Senator and House Representatives at www.senate.gov and www.house.gov
U.S. Capitol Switchboard (202) 224-3121.
You can download a copy of this article here: Credit for caring Act.pdf
OTHER NEWS
BWA 42nd Annual Symposium
WASHINGTON, D.C. – Friday, September 13, 2019 – Six months away from the first 2020 presidential primaries and caucuses, The Black Women’s Agenda, Inc. (BWA) hosted its 42nd Annual Symposium Town Hall and Awards Luncheon, encouraging the nearly 1,800 attendees to flex their political muscle and to help usher in the changes that they want to see in their communities and across the nation.
Joy-Ann Reid, host of MSNBC’s “AM Joy,” moderated the Town Hall, sharing the stage with a panel of journalists, political commentators, and other experts who encouraged participants to live their best lives by giving voice to the issues that are important to them and exacting promises for their support.
Spirit of Change Conversation Series
Relatedness is a basic psychological experience. We all need to feel connected to other human beings: to care and be cared for, and to belong. We believe that bringing our country together starts with meaningful conversation. Our goal is to reduce polarization and social bias, to increase the willingness to engage in meaningful dialogue, and create an increased understanding and appreciation for our differences and similarities.
November is National Diabetes Awareness Month
According to the American Diabetes Association, “1.25 million Americans have type 1 diabetes and 40,000 people will be diagnosed with it this year. Type 1 diabetes occurs at every age, in people of every race, and of every shape and size.
In type 1 diabetes, the body does not produce insulin. The body breaks down the carbohydrates you eat into blood sugar that it uses for energy—and insulin is a hormone that the body needs to get glucose from the bloodstream into the cells of the body. With the help of insulin therapy and other treatments, everyone can learn to manage their condition and live long healthy lives.
Type 2 diabetes is the most common form of diabetes—and it means that your body doesn’t use insulin properly. And while some people can control their blood sugar levels with healthy eating and exercise, others may need medication or insulin to help manage it.
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JOIN US LIVE NOW for our 46th Annual Symposium moderated by @SymoneDSanders
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BWA 46th Annual Symposium Townhall
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Today in #BlackHistory — Unbought and Unbossed, Shirley Chisholm became the first Black Presidential nominee.
She shattered the glass ceiling and I'm beyond proud to represent part of her district! I am because she was.
We fought hard for this because birth control is essential to our reproductive freedom.
This victory will empower folks to make decisions about their bodies & their futures.
Congress must now pass our bill to #FreeThePill & make OTC birth control free for all who need it.
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"The fight for the ideals that reflect America at its best: Freedom, opportunity, fairness, and dignity. That is a fight I will never give up." - Vice President Kamala Harris, 2024 Presidential Candidate
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