Rep. Veasey Reintroduces Legislation To Lessen Financial Burden for Grandparent Caregivers
H.R. 3796, Grandparents Tax Credit Act of 2017, provides a $500 refundable tax credit to financially assist grandparents that serve as primary caregivers
WASHINGTON, D.C. – In honor of National Grandparents Day, Congressman Marc Veasey, TX-33, reintroduced H.R. 3796, the Grandparents Tax Credit Act, which provides a $500 refundable tax credit to help cover additional expenses for grandparent caregivers. This legislation aims to lessen 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 are working multiple jobs, have long term unemployment, or are spending extended time away from home due to military service or drug rehabilitation and require additional help to take care of their children. The added financial burden has left many grandparents in difficult financial situations as many already struggle to make ends meet on a fixed income. 580,000 grandparents in the United States are exclusively responsible for their grandchildren and survive on poverty level incomes.
"I was fortunate that my mother, brother, and I were able to move in with my grandmother at the age of 10 when our circumstances required it. She played a central role in my upbringing and helped raise me into the man I am today," Congressman Veasey said. "I want to ensure that current and future grandparents, like my own grandmother, will receive a little extra help to cover the additional expenses they inherit when they take on a traditionally uncompensated labor of love. No grandparent should have to struggle because they have chosen to take care of their grandchildren."
Congressman Veasey will further discuss the issues affecting our nation's seniors in the DFW Metroplex at his 2017 Senior Seminar on Monday, September 18, 2017, in Dallas, Texas and Tuesday, September 19, 2017, in Fort Worth, Texas. For details on the Senior Seminar, please visit: Veasey.House.Gov.