Senate bill S3702-118

Finance Committee

Credit for Caring Act of 2024

• Last activity on Jan 31, 2024

• Introduced Jan 31, 2024

• By Sen. Bennet, Michael F. [D-CO]

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Main Subject: Taxation

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.

Senate Actions

IntroReferral
Jan. 31 2024	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Jan. 31 2024	Introduced in Senate

Senate bill S3702-118

Credit for Caring Act of 2024

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