S 3702
118th Congress
Senate
Taxation
Credit for Caring Act of 2024
Introduced: January 31, 2024
Introduced by:
Bennet, Michael F.
Democratic
· Colorado
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 31, 2024
Read twice and referred to the Committee on Finance.
Jan 31, 2024
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1