In her upcoming State of the State Address, Gov. Gretchen Whitmer’s office has announced that she will be presenting a proposal to offer tax relief for caregivers in Michigan.
Michigan Governor Gretchen Whitmer has proposed a new plan called the “Caring for MI Family Tax Credit” that aims to offer tax relief to numerous families in the state. Under this plan, eligible families could receive up to $5,000 in tax relief, which can be used to cover various expenses including counseling, transportation, and nursing or respite services. According to Whitmer’s office, the proposal aims to increase the number of seniors in Michigan who can continue living in their own homes, while also providing support for parents who are caring for children with long-term needs.
Unpaid caregivers often bear the financial burden of caring for loved ones with serious health conditions. According to a recent study conducted by AARP, unpaid family caregivers are found to spend an average of $7,242 per year. An advocacy group has estimated that the economic value of their contributions in supporting adults in their lives is around $600 billion.
A recent study by the Kaiser Family Foundation has found that women bear the brunt of family caregiving responsibilities. The study also highlights racial disparities, with a higher proportion of Black women taking on caregiving roles for family members requiring special assistance compared to their white counterparts. Some women have faced difficulties in remaining in the workforce due to their caregiving responsibilities.
The Michigan state director of AARP expressed enthusiasm for the upcoming proposal from Governor Whitmer. Paula Cunningham stated that caregiving poses significant challenges for families in Michigan. “Families can find some financial relief with the proposed tax credit, which offers up to $5,000 in tax benefits to ease the strain of caregiving.” This policy represents more than just financial relief – it serves as a testament to our values and dedication to the welfare of all residents of Michigan.
Lori Stephens-Brown, the director of Aging Services of Marquette County, has expressed her support for Governor Whitmer’s proposed tax credit for caregivers. “This initiative marks a significant milestone in addressing the financial and emotional burden faced by numerous caregivers,” stated Stephens-Brown. “… It recognizes and stands behind the invaluable contributions of family caregivers, who often go unrecognized and unrewarded for their efforts.” Governor Whitmer is scheduled to give her 2024 State of the State Address on Wednesday, January 24th at 7 p.m.