The President Triples His Long-Term Care Tax Credit


THE WHITE HOUSE
Office of the Press Secretary


For Immediate Release January 19, 2000



THE PRESIDENT TRIPLES HIS LONG-TERM CARE TAX CREDIT AND
URGES CONGRESS TO PASS A LONG-TERM CARE INITIATIVE IN 2000
January 19, 2000

Today, the Clinton Administration confirmed that the President's budget will include a $3,000 tax credit for people with long-term care needs or their caregivers -- tripling the credit over last year's proposal and increasing the total investment in long-term care to $28 billion over 10 years. This credit is the centerpiece of the President's historic long-term care initiative that has won praise from senior groups and health policy experts. The initiative tackles the complex problem of long-term care that affects millions of elderly, people with disabilities and families who care people in need. In addition to the (1) tax credit, the initiative will (2) provide funding for services which support family caregivers of older persons; (3) improve equity in Medicaid eligibility for people in home- and community-based settings; (4) encourage partnerships between low-income housing for the elderly and Medicaid; and (5) encourage the purchase of quality private long-term care insurance by Federal employees. This initiative complements the Administration's effort, spearheaded by the Vice President, to improve the quality of care in nursing homes. The President will commend Congress on giving this initiative serious consideration in the last session and urged it to finish the job this year.

MILLIONS OF AMERICANS HAVE LONG-TERM CARE NEEDS

FINANCIAL AS WELL AS SUPPORT SERVICES ARE NEEDED

PRESIDENT'S LONG-TERM CARE INITIATIVE. The Clinton Administration's long-term care initiative, which invests $10 billion over 5 years and $28 billion over 10 years, includes:



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