Hillary Clinton’s campaign has announced a proposed tax credit and social security expansion for unpaid family caregivers. This proposal will build upon and exceed President Obama’s current Caregiver Respite budget request, investing $100 million in the initiative over 10 years.
Clinton estimates the full economic value of unpaid, informal caregiving in 2013 was $470 billion. Her proposal offers a 20% tax credit to offset up to $6,000 in caregiving costs, resulting in claims of up to $1,200 in relief per year.
Clinton also believes Americans should continue to receive Social Security credits when they leave the workforce to act as caregivers.
Source: HillaryClinton.com. Hillary Clinton’s Plan to Invest in the Caring Economy: Recognizing the Value of Family Caregivers and Home Care Workers