Product Details
ModuleUnsticking the Sandwich Generation
Anne Kim and Tess StovallAbstract
This module proposes creating an elder care tax credit to help relieve some of the financial worries of caring for an aging family member.
Description
The fastest growing age group in the U.S. is people over the age of 85, and nearly 7 out of 10 middle-aged adults have at least one living parent. Caring for an elderly parent and young children at the same time is becoming an increasingly common challenge. By entitling families to use the Dependent Care Tax Credit for elder care expenses, middle-class families could receive a tax break to cover some of the out-of-pocket expenses paid on behalf of an elderly relative. This module lays out the problem of the sandwich generation, outlines how to respond and provides suggestions to roll out your plan to the public.