White House will up ante this week on long term care tax credit
White House will up ante this week on long term care tax credit
By MATTHEW HAY
HHBR Washington Correspondent
In his upcoming State of the Union, President Clinton will propose a $3,000 tax credit for people with long term care needs or those who provide long term care to chronically ill family members. While Clinton’s latest proposal ups the ante over a similar proposal the administration offered last year, it probably stands a greater chance of passing. The president’s $1,000 tax credit announced last January fell victim to partisan bickering.
The administration’s plan would provide a $1,000 tax credit next year and then increase that amount by $500 for four consecutive years. The $26 billion proposal would also give states roughly $1 billion to provide education about community-based programs, as well as respite care to family members.
"The president’s initiative is an important first step in acknowledging both the strains that long term care places on families and their loved ones, and the fact that the government must begin to devote funding to long term care," said Val Halamandaris, president of the National Association for Home Care (Washington). "Congress must act and must act soon to go well beyond the president’s initiative, which offers modest tax relief for few, with real substantive relief that protects everyone in need."
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