Rep. Veasey Reintroduces Legislation to Provide Tax Relief for Grandparent Caregivers

WASHINGTON, D.C. –Today, Thursday, September 10, 2015, Congressman Marc Veasey, TX-33, reintroduced H.R. 3475, the Grandparents Tax Credit, to lessen the financial burden on grandparents that serve as caregivers to their grandchildren by providing a $500 refundable tax credit. This legislation aims to alleviate the out-of-pocket costs that grandparents take on when they step up to help raise their grandchildren when their parents cannot.

According to the 2010 U.S. Census, over 10% of children lived with their grandparents and over 2.7 million grandparents claim sole responsibility for their grandchildren. During their golden years, grandparents take on this undertaking to assist parents who due to challenging situations like working multiple jobs, long term unemployment, or extended time away from home due to military service, require additional help to take care of their children. This added burden has left many grandparents in difficult financial situations. 580,000 grandparents in the United States are exclusively responsible for their grandchildren and working to survive on poverty level incomes.

"I know firsthand the important role that grandparents play in taking care of their grandchildren. At the age of 10, my mother, brother and I moved in with my grandmother and I am forever thankful for the vital role she played in my upbringing. Today, I want to ensure that future grandparents are compensated for the added responsibility they take on when they serve as caregivers to their grandchildren. This bill works to reimburse what has traditionally been accepted as a labor of love. No grandparent should struggle financially at the time of their life when they should be reaping the rewards of their past efforts, especially ones who step up to shape the lives of our country's children."

Congressman Veasey will further discuss the issues affecting older citizens in the DFW Metroplex at his 2015 Senior Seminar on Wednesday, September 24, 2015, in Forest Hill, Texas. For details on the Senior Seminar, please visit: Veasey.House.Gov.