S.2759 - Credit for Caring Act of 2016114th Congress (2015-2016) |
| Sponsor: | Sen. Ernst, Joni [R-IA] (Introduced 04/07/2016) |
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| Committees: | Senate - Finance |
| Latest Action: | 04/07/2016 Read twice and referred to the Committee on Finance. (All Actions) |
Tracker:
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Subject — Policy Area:
- Taxation
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Summary (1)
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Text (1)
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Actions (1)
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Titles (2)
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Amendments (0)
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Cosponsors (11)
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Committees (1)
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Related Bills (1)
Summary: S.2759 — 114th Congress (2015-2016)All Bill Information (Except Text)
There is one summary for S.2759. Bill summaries are authored by CRS.
Shown Here:
Introduced in Senate (04/07/2016)
Credit for Caring Act of 2016
This bill amends the Internal Revenue Code to allow an eligible caregiver a new tax credit for 30% of the cost of long-term care expenses that exceed $2,000, up to $3,000 in a taxable year. The bill defines "eligible caregiver" as an individual who pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs and who has earned income for the taxable year in excess of $7,500.