The AGE Act would let caregivers qualify for a tax credit to help offset expenses. This includes buying assistive technologies and devices, respite care and making necessary home modifications. The tax credit would be up to $6,000 per year.
News 8000 reports in the article “Klobuchar Introduces Legislation to Provide Relief to Those Caring for Aging Relatives,” that the Minnesota Senator and presidential candidate first introduced the AGE Act in 2015. The bill is co-sponsored by Senators Mazie K. Hirono (D-HI), Tina Smith (D-MN) and Dianne Feinstein (D-CA).
“We know that caregiving can be extremely expensive—especially when family members must quit a job or reduce hours in order to provide care,” Klobuchar said. “To help ease the emotional and financial toll, the AGE Act would provide family caregivers with tax credits to offset the costs of care. We have to make sure the millions of family members who serve as caregivers for their aging loved ones are able to not just take care of others, but also themselves.”
Those in favor of the bill, like the American Heart Association, feel that caregivers are an indispensable part of the health care system. They can play a significant role in the recovery and well-being of heart disease and stroke survivors.
As the nation’s population ages, the need for caregivers will increase. Klobuchar’s legislation is an important first step in making certain that those who care for elderly parents or relatives, have the resources necessary to maintain the health and well-being of their families, advocates say.
“More and more family members are serving in the role as caregivers for their elderly family members, and those numbers will only grow as our baby boomer population ages. We applaud Senator Klobuchar’s continued leadership on programs that recognize and support family caregivers. We strongly support the AGE Act as it will help reduce the financial burden for adult children who help care for aging family members and provide education, support and respite to family caregivers,” said LeadingAge Minnesota President and CEO Gayle Kvenvold.
Klobuchar has been fighting to ensure that older Americans can live a life of dignity. She introduced the Seniors Fraud Prevention Act, with Senator Susan Collins (R-ME), which passed the Senate Commerce Committee earlier this month. The legislation would help fight scams aimed at stealing assets from the elderly and would educate the community about fraud schemes and improving the monitoring of, and response to, fraud complaints.
In October 2017, the bipartisan Court-Appointed Guardian Accountability and Senior Protection Act Klobuchar introduced with Senator John Cornyn (R-TX) was signed into law as part of the Elder Abuse Prevention and Prosecution Act. The law helps to thwart elder abuse, by bolstering oversight and accountability for guardians and conservators.
Reference: News 8000 (May 7, 2019) “Klobuchar Introduces Legislation to Provide Relief to Those Caring for Aging Relatives”