[Congressional Record Volume 146, Number 100 (Thursday, July 27, 2000)]
[Senate]
[Page S7898]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. CONRAD:
  S. 2984. A bill to amend the Internal Revenue Code of 1986 and to 
provide a refundable caregivers tax credit; to the Committee on 
Finance.


              long-term caregivers assistance act of 2000

  Mr. CONRAD. Mr. President, today I am introducing the Long-Term 
Caregivers Assistance Act of 2000, a proposal that would provide much 
needed assistance to individuals with long-term care needs and their 
caregivers.
  Nationwide, more than 8 million individuals require some level of 
assistance with activities of daily living. Over the next 30 years, 
this number is expected to increase significantly as our nation 
experiences an unprecedented growth in its elderly population.
  We know that for many people leaving their homes to obtain care is 
not their first choice--the cost of nursing home care can be 
prohibitive, and such care often takes individuals away from their 
communities. While federal support for long-term care is primarily 
spent on nursing home services, many people receive assistance with 
their long-term care needs in the home from their families, often 
without the help of public assistance or private insurance.
  Nationwide, nearly 37 million individuals provide unpaid care to 
family members of all ages with functional or cognitive impairments. In 
my state, there are about 61,000 individuals providing informal 
caregiving services.
  Unfortunately, the need for long-term care can cause substantial 
financial burdens on many individuals and their families. According to 
a recent study, almost two-thirds of those serving as caregivers suffer 
financial setbacks--setbacks that can total thousands of dollars in 
lost wages and other benefits over a caregiver's lifetime. This is a 
burden that caregivers and their families should not have to bear 
alone.
  For this reason, I am introducing this proposal to provide a $2,000 
tax credit that could be used by individuals with substantial care 
needs or by their caregivers.
  Taxpayers who have long-term care needs, or who care for others with 
such needs, may not have the same ability to pay taxes as other 
taxpayers--a reasonable and legitimate concern in a tax system based on 
the principle of ability-to-pay. Providing a tax credit is an equitable 
and efficient way of helping caregivers and individuals with long-term 
care needs meet their formal and informal costs.
  I recognize that this tax credit is only a piece of the long-term 
care puzzle--but I believe it is an important piece. This credit could 
be used to help pay for prescription drugs or other out-of-pocket 
expenses. It could be used to pay for some formal home care services. 
It could also be used to help family members offset some of the 
expenses they incur in caregiving.
  We must act now to address the long-term care needs of our nation. I 
urge my colleagues to support this important legislation.
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