Evan Bayh: “we have spent the last week discussing the importance of tax cuts for all Americans. While we discuss fiscally…”

“we have spent the last week discussing the importance of tax cuts for all Americans. While we discuss fiscally responsible means to provide financial benefits to all Americans we need to remember there are millions of Americans that are taking on extra financial burdens by taking care of a loved one at home. These caregivers deserve financial assistance. America is aging, we are all living longer and generally healthier and more productive lives. In the next 30 years, the number of Americans over the age of 65 will double. For most Americans this is good news. However, for some families aging comes with unique financial obstacles. More and more middle income families are forced to choose between providing educational expenses for their children, saving for their own retirement, and providing medical care for their parents and grandparents. When a loved one becomes ill and needs to be cared for, nothing is more challenging then deciding how the care they need should be provided. Today, I rise again to make that decision easier and to strengthen one option for long-term care caring for a loved one at home. The bill I am reintroducing today, the Care Assistance and Resource Enhancement Tax Credit, will provide caregivers with a $3,000 tax credit for the services they provide.”