LETTER: In support of Credit for Caring Act
I’d like to thank U.S. Rep. Guy Reschenthaler for supporting Alzheimer’s legislation last year, which led to three vital pieces of legislation passing. I also urge the congressman to support the Credit for Caring Act (H.R. 2036), a critical piece of legislation that would provide essential financial relief to millions of unpaid family caregivers.
Despite their invaluable contributions, many caregivers face severe financial hardships, with over 40% having annual household incomes below $50,000 and bearing out-of-pocket costs exceeding $10,000 per year. Approximately 20 months ago, I lost my wife, Jackie, to dementia. Through the many challenges we faced for the nine years that I was Jackie’s caregiver, the one most daunting was the fear of not having sufficient funds to handle all of our medical expenses that was a part of fighting this disease. It is extremely difficult for many families to survive financially in today’s world. The Credit for Caring Act would provide a life raft for families struggling to afford all of the increased costs associated with Alzheimer’s and dementia.
The Credit for Caring Act proposes a nonrefundable federal tax credit of up to $5,000 per year for family caregivers. This credit would help offset costs such as respite care, transportation, and lost wages, alleviating some of the economic strain on caregivers.
I urge Reschenthaler to advocate for the passage of the Credit for Caring Act and provide much-needed financial support to those who selflessly care for our loved ones.
Bill Evans
Houston