Washington, DC – U.S. Senator Kirsten Gillibrand today unveiled the bipartisan Credit for Caring Act, legislation that would support family caregivers by helping to alleviate some of the financial challenges they may face. Family caregivers are family members who take care of a loved one that has a medical or behavioral condition or disability. Gillibrand’s new push comes after hosting roundtables and meetings across New York with older adults and disability rights advocates and hearing directly from them about their specific needs. According to the most recently available data, there are 2.6 million unpaid caregivers throughout New York State.
The Credit for Caring Act would give eligible family caregivers a tax credit of up to $3,000 to assist with out-of-pocket expenses related to caregiving. The tax credit would help families cover the myriad of expenses associated with caregiving, such as transportation, home modifications to accommodate a family member, and training or education for the caregiver. This legislation would be a first step toward providing much-needed financial relief for caregivers across New York. It would also help allow older adults and people with disabilities continue to live independently in their homes and stay in their communities with their families.
“When family caregivers take on the expenses associated with the life and well-being of their family members, the expenses can really add up and lead to significant financial stress. Family caregivers deserve to be supported for the extra responsibilities they take on in their role,” said Senator Gillibrand. “One way to do this is through the bipartisan Credit for Caring Act, which would provide many family caregivers with a tax credit of up to $3,000 a year to help assist with the out-of-pocket expenses related to caregiving. I am proud to be a part of this first step toward providing some much-needed relief for caregivers from some of the financial challenges they face, and I urge my colleagues to support this bill.”
“We thank Senator Gillibrand for co-sponsoring the bipartisan Credit for Caring Act. This critical legislation offers a much-needed tax credit to help support our nation’s family caregivers who take on physical, emotional, and financial challenges in their caregiving roles. Family caregivers make it possible for older adults and people with disabilities to live independently in their homes and communities,” said Beth Finkel, State Director, AARP New York.
In addition to supporting the Credit for Caring Act, Senator Gillibrand has worked to help family caregivers by cosponsoring the Social Security Credit for Caregivers Act, which would provide retirement compensation to individuals who had to leave their job to care for a family member.
The Credit for Caring Act is endorsed by AARP, ANCOR, and National Alliance for Caregiving. The full text of the bill may be found here.