Credit for Caring Act of 2024

House Bill 7165 - Credit for Caring Act of 2024: Overview, Status, and Impact

Hozzl · 2024-03-07T08:15:26Z

Explore the details of House Bill 7165 Credit for Caring Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/7/2024, 8:15 AM

Congressional Summary of HR 7165

Credit for Caring Act of 2024

This bill allows an eligible caregiver a tax credit of up to $5,000 for 30% of the cost of long-term care expenses that exceed $2,000 in a taxable year. The bill defines eligible caregiver as an individual who has earned income for the taxable year in excess of $7,500 and pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs.

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Current Status of Bill HR 7165

Bill HR 7165 is currently in the status of Bill Introduced since January 31, 2024. Bill HR 7165 was introduced during Congress 118 and was introduced to the House on January 31, 2024. Bill HR 7165's most recent activity was Referred to the House Committee on Ways and Means. as of January 31, 2024