Anthony Weiner visited Riverdale Senior Services to discuss a proposal from his book, Keys to the City - 64 Ideas to Keep New York the Capital of the Middle Class, that would provide much-needed relief to those who care for the elderly or long-term ill in New York City.
Weiner’s proposal reduces the financial burden on caregivers by providing a city exemption for those who provide care to their loved ones at home.
Today, there are over 1 million New Yorkers who provide care to older family members with chronic illnesses and about 200,000 of them live with their dependents. This number is expected to rise as the number of New Yorkers over the age of 65 grows by an estimated 47% between 2005 and 2030. The average national expenses for family caregivers – on items such as household goods, food, transportation, medical co-payments and pharmaceuticals – is $5,531 a year.
Idea #32 – Subsidize New Yorkers Who Are Caregivers at Home – By providing a “Caregiver Tax Exemption,” burdens so that families no longer have to make choices between providing care for their family members or the basic life necessities. Weiner’s proposal would:
- Double the existing federal tax relief for at-home caregivers by providing a $7,800 exemption from the filer’s personal income tax burden at the city level.
- Save 104,000 middle-class New Yorkers who provide at home care an average of $250 per year, easing burdens so they can now more easily buy necessities like a tub chair, which costs $280, or a motion sensor, costing $325, to turn off the stove automatically.
Claimants must receive the Federal Dependent Exemption be a full-time resident of New York City, live with their dependent, and not have an income of over $100,000. Those who qualify would simply check a new box on the state tax form, lowering the amount of income on which the city would levy personal income tax. Weiner’s proposal is expected to have a positive impact on the wallets of over 100,000 New Yorkers
“Many middle class New Yorkers and those struggling to make it are trapped in a vice, caring for children on one end and elderly relatives on the other,” said Mr. Weiner. “As more of us face these realities, the City can send a message that caregivers are providing a valuable service and no longer have to choose between food and medicine.”