President-elect Trump proposes a $5,000 caregiver tax credit to aid 48 million Americans.

President-elect Donald Trump has proposed a caregiver tax credit to support family caregivers, a group of 48 million Americans who often bear significant financial burdens. The credit could cover up to $5,000 of caregiving expenses, but it would need Congressional approval. Experts note that while helpful, the credit alone won't solve the caregiving crisis, which is expected to worsen as more Americans turn 65. Larger investments in care services and leave policies are also needed.

November 13, 2024
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