Older Americans and advocates are urging officials to prioritize caregiving needs with new tax break

WASHINGTON — Millions of Americans provide unpaid care to older adults, making it difficult for them to keep up with costs.

As the new presidential administration is gearing up to take office, older Americans and advocates are urging officials to prioritize caregiving needs.

AARP says there is overwhelming support for a proposal in Congress to provide employed family caregivers with a tax credit up to $5,000, depending on how much they spend to take care of an older loved one. Advocates say it’s necessary to keep up with rising costs.

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Channel 2 Washington Correspondent Samantha Manning spoke to an advocate from the organization, who explained what they’re hoping to get from a renewed push for supportive legislation in Congress.

Nearly 50 million Americans in the U.S. are helping take care of aging parents, spouses or other loved ones. Most are women, according to a study by the AARP. The research from the nonprofit found that many of those caregivers are covering the expenses out of pocket.

“Seventy-eight percent routinely pay for care-related expenses out of their own pockets,” Nancy Leamond, AARP Chief Advocacy and Engagement Officer, said. “On average, around $7,200 a year.”

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AARP and other caregiver and elder advocates are pushing for members of Congress to pass a bipartisan bill to give up to $5,000 tax breaks to financially strained family caregivers.

They say it’s a move urgently needed to keep up with rising costs and an increasingly larger aging population in the United States.

“They’re cutting back on personal spending, dipping into their savings and reducing what they’re saving for their own retirement,” Leamond said.

The Credit for Caring Act has bipartisan support in both the U.S. House of Representatives and the U.S. Senate and is meant to help offset a portion of caregiving costs like home care aides, home modifications, assistive technology and more.

Now that the 2024 election has for the most part completed, advocates are urging President-elect Donald Trump and his incoming administration to prioritize the proposal. They’re pushing to have the bipartisan measure be introduced again next year.

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