Hillary Clinton proposing tax credit for caregivers

U.S. Democratic presidential hopeful Hillary Clinton on Sunday proposed a set of initiatives aimed at caregiving families and workers, including a tax credit to offset up to $6,000 in costs associated with caring for elderly and disabled family members and an expansion of Social Security benefits to individuals acting as unpaid caregivers for loved ones.

As senior living adapts amid minimum wage pressures and families increasingly face tough financial choices related to senior care, one presidential candidate has vowed to reform tax policies to better support paid and unpaid caregivers alike. “Many family members, most often spouses and adult daughters, spend time out of the workforce, cut back on hours, or use personal days, vacation, and family time to provide needed care”, said Clinton’s campaign prior to the meeting, according to Politico.

The endorsement was something of a surprise because Clinton recently came out in opposition to the Keystone XL Pipeline project, a proposal that would ship oil from Canada’s tar sands down to the Gulf of Mexico.

The tax breaks will help families stretch their budgets a little more, she explained.

In March, Sens. Amy Klobuchar and Barbara Mikulski introduced in a bill that would implement the elder care tax credit, but it has, so far, gone nowhere in the Senate.

“We are the only people that they see”. Clinton’s campaign estimates that the economic value of the unpaid work provided by family caregivers of the aging and disabled was $470 billion in 2013.

Thats a lot, said Sanders, who then repeateda challenge he has extended to Clinton to join those supporting the legislation, which he said would cost the typical worker $1.39 a week.

Clinton has mentioned a growing “caregiver crisis” at a number of events across the country, arguing that with Baby Boomers growing older, it will be important for the government to be more proactive in addressing caregiving issues.

Her main rival, Vermont Senator Bernie Sanders, has deep ties to the labor movement, but he has struggled to gain lasting traction against Clinton.

“I think most of the expense that they put in there, the expenditures have to do with the single-payer health care system”, Mr. Sanders told MSNBC after the report. John Forrest says he liked most of what Clinton had to say but added a couple of subjects she did not discuss, including the recent attacks in France and the loss of local manufacturing jobs, will be big factors in the near future. She also proposed expanding Social Security to reward those who take time out of their careers to act as caregivers for relatives.

Do you support Hillary Clinton’s proposal to extend tax breaks to caregivers while taxing higher-income group?