New York City Council Header
File #: Res 1234-2020    Version: * Name: Providing a tax credit for qualified caregiving expenses. (A.7209/S.5100)
Type: Resolution Status: Committee
Committee: Committee on Finance
On agenda: 2/11/2020
Enactment date: Law number:
Title: Resolution calling upon the New York State Legislature to pass, and the Governor to sign, A.7209/S.5100, in relation to providing a tax credit for qualified caregiving expenses.
Sponsors: Margaret S. Chin, Diana Ayala , Helen K. Rosenthal, Farah N. Louis, Kalman Yeger , Vanessa L. Gibson
Council Member Sponsors: 6
Attachments: 1. Res. No. 1234, 2. February 11, 2020 - Stated Meeting Agenda with Links to Files, 3. Hearing Transcript - Stated Meeting 2-11-20

Res. No. 1234

 

Resolution calling upon the New York State Legislature to pass, and the Governor to sign, A.7209/S.5100, in relation to providing a tax credit for qualified caregiving expenses.

 

By Council Members Chin, Ayala, Rosenthal, Louis, Yeger and Gibson

                     Whereas, Every day, tens of millions of Americans provide unpaid care for others who are unable to care for themselves due to a mental and/or physical impairment; and

Whereas, According to the report on Caregiving in the U.S. 2015 by the National Alliance for Caregiving and the AARP Public Policy Institute, there are approximately 34.2 million adults in the United States who have provided unpaid care to an adult age 50 or older; and

                     Whereas, According to the 2009 report on Supporting and Strengthening Caregivers in New York State by the New York State Family Caregiver Council, the New York ranks third in the nation for the highest number of unpaid caregivers with over 2.2 million caregivers statewide; and

Whereas, Close to one-fifth of the caregiver population in New York reported household incomes below $20,000, according to the New York State Family Caregiver Council report; and

Whereas, In 2016, the New York City Council passed Local Law 97 which required the New York City Department for the Aging (DFTA) to conduct a survey of informal caregivers, public and private service providers, and service recipients within the City, to assess existing resources for informal caregivers and identify their needs, and to develop a comprehensive plan to address those needs of unpaid caregivers in the City; and 

Whereas, According to A Survey of Informal Caregivers in New York City by DFTA in 2017, the economic value of the work family caregivers perform across the United States is estimated at $470 billion a year, and the economic impact of unpaid caregiving on the families who both require and deliver those services is enormous; and

Whereas, Caregivers are often required to pay out of pocket for caregiving expenses, which was estimated to be an average of nearly $7,000 a year and represented approximately 20 percent of caregivers incomes, according to DFTA’s survey; and 

Whereas, Additionally, some caregivers opt to leave the workforce early so that they can provide full-time care to a family member, which resulted on an average loss of $304,000 in wages and benefits over the course of their lives, according to DFTA’s survey; and

Whereas, According to DFTA’s survey, the City is home to an estimated 900,000 to 1.3 million caregivers, many of whom are women or older adults who provide at least 30 hours of care each week while also working outside the home; and

Whereas, At least one-third of the City’s caregiver population struggled financially, and many lacked the knowledge and financial resources to obtain the necessary services to care for their loved ones, according to DFTA’s survey; and

Whereas, In April 2019, the State Senate introduced S.5100, sponsored by Senator Rachel May, and the State Assembly introduced A.7209, sponsored by Assembly Member Harry Bronson, that would provide a tax credit for qualified caregiving expenses; and

Whereas, The legislation would provide a tax credit to an individual with a gross annual income of $75,000 or less, and a couple with a gross annual income of $150,000 or less, of up to $3,500, or for expenses for goods and services provided to or for the benefit of a qualifying family member or to assist a qualified caregiver in caring for a qualifying family member; and

Whereas, With one of the largest population of caregivers in the nation, the State has an obligation to provide a tax credit to caregivers as they provide a significant economic benefit to the City and State by performing a number of activities allowing those in their care to remain at home in the community, while also taking on the majority of all long-term care services to both older adults and individuals with disabilities; now, therefore, be it

                     Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass, and the Governor to sign, A.7209/S.5100, in relation to providing a tax credit  for qualified caregiving expenses.

 

SR

LS 13006

1/31/2020