Proposal:Credit for Caring Act of 2024

This proposal is archived and closed to further debate. It was introduced in the 118th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 3702
Type of Legislation	Senate Bill
Congress	118
Status	Archived — 118th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

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.

Bill Title

Credit for Caring Act of 2024

Linked Goals

• Goal:Promote General Welfare

Steps

• 2024-01-31: Read twice and referred to the Committee on Finance.
• 2024-01-31: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.