Issue: Family Caregiver Tax Credit

Posted on 12/07/23

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AARP Virginia is asking lawmakers to give people who take care of their loved ones at home at home a tax break.

Check back for updates on the status of legislation.

Tell your legislator to support the Family Caregiver Tax Credit.

Progress

Background

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Nearly one million Virginians are providing unpaid care to loved ones.

  • The economic value provided by Virginians caring for family members was $14.3 billion in 2021. Comparatively, Virginia’s total Medicaid spending for fiscal year 2021 was about $16 billion
  • Family caregivers are a vital part of our healthcare system, and save Virginia taxpayers massive amounts of money by keeping people out of long-term care facilities and in their communities
  • Family caregivers spend more than $7,200 per year — 26% of their income on average — on caregiving activities

    The Policy

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  • Create a nonrefundable income tax credit of up to $1,000 for Virginians caring for a loved one
  • Apply to eligible expenses incurred by an individual in caring for a family member, such as livability alterations to the person’s home, hiring a home care aide or equipment and technology that assists the family member in living their life
  • Provide badly-needed relief to hard-working Virginians caring for family members, the invisible backbone of our healthcare system

This story is provided by AARP Virginia. Visit the AARP Virginia page for more news, events, and programs affecting retirement, health care, and more.

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