The District’s chapter of the American Association of Retired Persons praised D.C. Del. Eleanor Holmes Norton for leading legislation to support family caregivers.
Norton recently reintroduced the Credit for Caring Act, which would provide eligible working family caregivers with up to a $5,000 nonrefundable federal tax credit to offset caregiving expenses.
Family caregivers spend over $7,200 annually on average — 26% of their income — on out-of-pocket expenses.
“Family caregivers play an essential role in supporting their loved ones and keeping our communities strong, yet they often face steep personal and financial challenges,” said Louis Davis Jr., AARP DC state director.
More than 74,000 District residents care for aging parents, spouses and others in need, helping them remain in their homes and communities.
Sixty-one percent of family caregivers nationwide work either full or part time, but many have reduced hours or left jobs, sacrificing income and retirement savings.
The bill would provide a nonrefundable federal tax credit for specific caregiving expenses, including home care aides, adult day services, home modifications and respite care.
In the District, caregivers contribute an estimated 69 million hours of unpaid care annually. An AARP analysis estimates that improved workplace support for caregivers aged 50 and older could boost U.S. GDP by an additional $1.7 trillion in 2030.