❌ HB279
Authorize an income tax credit for family caregiving expenses
Summary
This bill authorizes a nonrefundable income tax credit for family caregiving expenses, allowing eligible family caregivers to claim 30% of their eligible expenses, up to $2,000, for providing care to qualifying family members. Eligible family members must be at least 50 years old and require assistance with at least two activities of daily living. The bill outlines specific criteria for eligible expenses and income thresholds for caregivers.
Rationale
The bill introduces a tax credit which may be seen as a form of government intervention in personal financial matters, conflicting with the LP and LPO principles of minimal government involvement in individual choices and economic affairs. Both platforms advocate for reduced taxation and government spending, which this bill does not align with.
Risks and Concerns
- Increases government involvement in personal financial decisions
- Potential for dependency on government assistance
- May lead to increased taxation to fund the credit