“Preserving Medical Expense Tax Deduction Important Step, Approval
of RAISE Act Needed Next:
“NEW YORK (December 21, 2017) — In the
wake of sweeping changes to the nation’s tax code, Alzheimer’s Foundation of
America (AFA) President and CEO Charles Fuschillo is urging Washington to take
additional steps to aid caregivers assisting those with Alzheimer’s.
“‘The daunting task and financial burden of caring for a community
at risk is growing exponentially, and without assistance from Washington
individuals performing this task would be faced with the Hobson’s choice of
personal bankruptcy or walking away from loved ones,’ Fuschillo said.
“Fuschillo cited the preservation of the medical expense deduction
and reduction of the income threshold needed to qualify from 10% to 7.5% for
2017 and 2018 in the recent tax reform legislation as ‘recognition of some of
the needs facing family caregivers.’ Nearly 9 million caregivers deducted
approximately $87 billion for related healthcare expenses in tax year 2015.
“Fuschillo
says for the next step, ‘The Senate must join the House in passing the Recognize, Assist,
Include, Support, and Engage (RAISE) Family Caregivers Act which requires
Washington to create a National Family Caregiving Strategy that finally
recognizes family caregivers as integral and essential within the nation’s
health care safety net. Without these caregivers our society would be hard
pressed to preserve and protect the dignity and safety of countless individuals
who face Alzheimer’s.’
“‘Alzheimer’s is a crisis that touches every American, and we are
encouraged that there is an awareness and appreciation in Washington of this
fact. Without a coordinated response to this unfolding national challenge
we would be left directionless, isolated from those who can strengthen the
collective safety net for family caregivers,’ explained the AFA executive.”
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