FALMOUTH, ME – During a visit to the Stewart Adult Day Center in Falmouth today, U.S. Senator Angus King (I-Maine) announced his support for the Credit for Caring Act, bipartisan legislation that would help make caring for an aging loved one easier and more affordable by providing up to a $3,000 nonrefundable tax credit to working family caregivers.

Senator King announced his support for the bill during a tour of the Stewart Center, a facility that provides day care support services for Mainers living with memory impairments. There, he met with staff, community members, and their families to discuss the challenges of aging at home. The discussion also included local private sector leaders, including representatives from the Southern Maine Agency on Aging, Bath Housing, Spectrum Generations, Maine Women’s Policy Center, and Maine AARP. Prior to the roundtable, Senator King also toured the facility.

“Thousands of family caregivers across Maine are balancing supporting an aging loved one with the demands of everyday life, like working and raising children – and they often reach deep into their pockets to do it,” Senator King said. “This tax credit can help make the cost of that care a little more affordable and life a little easier while ensuring that loved ones receive the care they need.”

According to AARP, there are an estimated 40 million family caregivers in the United States, including 178,000 in Maine – the majority of whom spend an estimated 18 hours per week providing critical support to a family member. The bipartisan Credit for Caring Act recognizes the essential role that family caregivers play in supporting aging parents or grandparents and family members with a long-term illness or disability. Importantly, these caregivers help aging people needing care stay in their homes, rather than entering a nursing or long-term care facility.

More specifically, the tax credit would help alleviate some of the out of pocket financial expenses that caregivers often take on, all while balancing full or part-time employment. The credit would be available to family caregivers to provide some relief for the added costs caregivers incur, such as travel costs for transporting a loved one, home modifications to accommodate a family member’s special needs, medication management services, and more. Additionally, the credit would also phase out at higher income levels and includes important provisions to prevent double-dipping and ensure that appropriate taxpayer protections are in place.

About the Credit for Caring Act:

• Creates up to a $3,000 nonrefundable tax credit adjusted to inflation for family caregivers
• Applies to incurred family caregiving expenses greater than $2,000
• Qualified care recipients must have been certified by a health care practitioner to be in need of long-term care for at least 180 consecutive days
• Eligibility is limited to a caregiver of a qualified care recipient who must pay for caregiving expenses and has earned income in excess of $7,500
• Credit is phased out when income exceeds $150,000 for joint filers or $75,000 for individual filers

Senator King formally cosponsored the bill last week. It was introduced by Senators Joni Ernst (R-Iowa), Michael Bennet (D-Colo.), Elizabeth Warren (D-Mass.), and Kelly Ayotte (R-N.H.). The bill is a companion to H.R. 4708 introduced by Congressman Tom Reed (R-N.Y.) in March.

Senator King’s announcement also comes on the heels of his introduction of the Senior Home Modification Assistance Initiative Act with Senator Kelly Ayotte (R-N.H.). The legislation would make independent living less burdensome for Mainers as they grow older by making federal home modification programs more accessible for older Americans.

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