News For Family Caregivers
An important service provided by the Caregiver Coalition Fund of America (CareCFA) is to provide reliable and valued information to family caregivers. This information may include scientific and technological advances that may be of importance to family caregivers as well as information from various news services. CareCFA will periodically add news features to this page; therefore, please bookmark this page for easy access. If you have any information that you would like CareCFA to consider adding to our News page, please e-mail us at: News@carecfa.org. Thank you.
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News For February 28, 2024
Credit for Caring Act of 2024 (S. 3702)
The Credit for Caring Act of 2024 is a bipartisan initiative aimed at supporting approximately 70 million Americans who provide financial care for family members. These caregivers play a crucial role within our healthcare community.
As of this writing (February 25, 2024), the Credit for Caring Act of 2024 is in the legislative process. It was introduced in the 118th Congress by Senator Michael F. Bennet on January 31, 2024. If passed, the bill would provide a nonrefundable federal tax credit to working family caregivers who incur caregiving expenses exceeding $2,000 during the taxable year. The credit would cover 30% of qualified expenses up to a maximum of $5,000. For taxable years beginning after 2024, the dollar amount may be adjusted for inflation. The bill has been referred to the Committee on Finance.
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