Elder Care Tax Credit

SUMMARY

This idea brief proposes the creation of a new elder care tax credit to help families cope with the cost of providing care for aging parents while trying to meet other family budget needs.

An increasing number of “sandwich generation” families are being asked to raise children while accepting the new responsibility of managing the care needs of aging parents. This obligation can be costly, and families must often shoulder the burden alone. This idea brief proposes the creation of an elder care tax credit can help relieve some of the financial worries of caring for aging family members.

To read this Report, open the attached PDF