Summary of Bill S 925
Bill 119 s 925, also known as the "Working Family Caregivers Tax Credit Act," is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986 in order to provide a tax credit for working family caregivers. The bill is designed to assist individuals who are employed and also responsible for caring for a family member who is elderly or has a disability.
Under this bill, eligible caregivers would be able to claim a tax credit to help offset the costs associated with providing care for their loved ones. The credit would be based on a percentage of the caregiver's eligible expenses, such as medical costs, transportation, and other necessary expenses related to caregiving.
The bill is intended to provide financial relief to working family caregivers who often face significant financial burdens and challenges in balancing their caregiving responsibilities with their employment. By offering a tax credit, the bill aims to support these caregivers and recognize the valuable role they play in providing care for their family members.
Overall, Bill 119 s 925 seeks to address the needs of working family caregivers and provide them with much-needed financial assistance to help alleviate the costs associated with caregiving.