S. 3702 · 118th Congress
Credit for Caring Act of 2024
- Stage
- In committee
- Sponsor
- Michael Bennet
- Introduced
- 2024-01-31
- Latest action
- 2024-01-31 · Introduced in Senate
Summary
Credit for Caring Act of 2024
This bill allows an eligible caregiver a tax credit of up to $5,000 for 30% of the cost of long-term care expenses that exceed $2,000 in a taxable year. The bill defines eligible caregiver as an individual who has earned income for the taxable year in excess of $7,500 and pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs.