S. 2759 · 114th Congress

Credit for Caring Act of 2016

Stage
In committee
Sponsor
Joni Ernst
Introduced
2016-04-07
Latest action
2016-04-07 · Introduced in Senate

Summary

Credit for Caring Act of 2016

This bill amends the Internal Revenue Code to allow an eligible caregiver a new tax credit for 30% of the cost of long-term care expenses that exceed $2,000, up to $3,000 in a taxable year. The bill defines "eligible caregiver" as an individual who pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs and who has earned income for the taxable year in excess of $7,500.