It’s not often one’s professional and personal life intersect so powerfully.
As CEO of the nonprofit ElderSource, a large part of my job is advocating for those who serve as family caregivers to older adults and adults with disabilities. We serve seven counties in Northeast Florida, but the need for caregivers is quickly growing nationwide.
I often hear directly from caregivers of the successes and struggles they face on a daily basis, and now I can speak on their needs firsthand. I have recently begun supporting my aging parents who are now in their 90s. Thankfully, they still live independently; however, I often step in to assist with transportation, grocery shopping and medical appointments. Adult children across the country are beginning to find themselves in a similar position as their parents age — working while caregiving.
The intersection of my roles as CEO and caregiver has given me a deeper understanding of the urgent need for a new bipartisan proposal in Congress that could provide much-needed relief to caregivers through a federal tax credit for eligible working family caregivers.
The Credit for Caring Act, if passed, would provide up to $5,000 in nonrefundable federal tax credits for eligible working family caregivers. It’s a step in the right direction to give caregivers the support they need. The average caregiver in the United States spends more than $7,000 in out-of-pocket costs each year.
An estimated 48 million caregivers in the U.S. provide support to a parent, grandparent, spouse or loved one, according to AARP. The unpaid labor and related expenses family caregivers shoulder each year amount to billions.
This legislation would support working caregivers even if the one they are caring for doesn’t live in the same house, like my situation.
Caring for my parents has given me a deeply personal understanding of the emotional, physical and financial challenges families face when they take on this responsibility. Family caregivers — two-thirds of whom are women — juggle work, family responsibilities and all the demands of caregiving. The Credit for Caring Act would ease these challenges by providing much-needed financial support.
Please go to MyElderSource.org to learn more about resources ElderSource provides to family caregivers and contact your elected representative to let them know how you feel about the tax credit proposal.
