The push for federal support of family caregivers just got a bit stronger coming out of Oklahoma, with the House of Representatives urging Congress to adopt a nationwide measure akin to the state's pioneering tax credit. Last Monday, on the legislative floors of Oklahoma, Rep. Tammy West, R-Oklahoma City, introduced House Concurrent Resolution 1009, championing for the passage of a federal version of Oklahoma's Caring for Caregivers Act, which could mean up to $3,000 in yearly tax credits for those qualified in the state, according to the Oklahoma House of Representatives.
Oklahoma made history in 2023 when it became the first state to provide a comprehensive caregiver tax credit. Currently, lawmakers are pushing for Congress to establish a similar nationwide provision under the Credit for Caring Act, as family caregivers in Oklahoma are estimated to provide $6.6 billion worth of unpaid care annually. As reported by the Oklahoma House of Representatives, this care helps keep seniors and individuals with long-term health conditions at home, avoiding more expensive institutional care settings that also burden taxpayers.
The federal proposal, known as the Credit for Caring Act, was introduced by Ohio Congressman Mike Carey and is designed to alleviate the financial strain on caregivers with a refundable tax credit that could go up to $5,000. This initiative garners support as Congressman Tom Cole has agreed to co-sponsor the act and former President Donald Trump has also expressed public support. Rep. West echoes the sentiment, asserting that "family caregivers provide immense value both to their loved ones and to the state," a realization that compounds as the April 15 tax deadline looms, where West is actively encouraging eligible Oklahomans to capitalize on the state's new tax credit, which provides up to $2,000 annually, or $3,000 for those attending to veterans or individuals with dementia, a credit capped at $1.5 million per year statewide as mentioned in the statement released by the Oklahoma House of Representatives.
With the adoption of HCR1009 by the Senate, a copy of the document will find its way to the desks of Oklahoma's congressional delegation, bolstering the argument for a nationwide support system for caregivers, a group that incurs over $7,000 each year in out-of-pocket expenses for items such as medical supplies, home adjustments, and transportation, costs that are decidedly eased by the proposed federal tax credit, as per findings of studies referenced by lawmakers advocating for the Credit for Caring Act. As per a report by the Oklahoma House of Representatives, the aim is to provide real relief to those juggling caregiving duties, employment, and the growing pile of expenses.
