Monthly Archives for February 2025

It’s now time for Congress to give tax credits to America’s caregivers

Published in RINewsToday on February 24, 2025

Just a few days after the 119th Congress was sworn in on Friday, January 3rd, AARP, along with 94 organizations, sent a letter to Congress urging lawmakers to enact legislation to provide financial relief for America’s caregivers. This could be accomplished by including the bipartisan bicameral Credit for Caring Act of 2024 (S. 3702/H.R. 7165 introduced in the 118th Congress) in any tax legislation that is advanced during the new Congress, says the joint letter.    

S. 3702/H.R. 7165, introduced during the last session of Congress by Sen. Michael Bennett (D-Colorado) and House lawmakers Mike Carey (D-Ohio), would allow an eligible caregiver a tax credit of up to $5,000 for 30% of the cost of long-term care expenses that exceed $2,000 in a taxable year. The bills defined eligible caregiver as an individual who has earned income for the taxable year in excess of $7,500 and pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs. 

The joint letter, dated Jan. 7, 2025, stressed that family caregivers make it possible for older adults, people with disabilities, and veterans, to live independently in their community and age in place at home.  It also cited an AARP study that found caregivers provided $600 billion annually in unpaid labor in 2021 to care for their loved ones. (This figure is based on about 38 million caregivers providing an average of 18 hours of care per week for a total of 36 billion hours of care, at an average value of $16.59 per hour). 

Caregivers take a hefty financial hit, too, having to cover out-of-pocket expenses associated with caregiving and losing income by cutting back on work hours or leaving the workforce entirely. When this occurs these individuals would see reduced Social Security and retirement savings by receiving reduced Social Security and other retirement benefits, noted the organizations in the correspondence. 

The joint letter also mentioned an AARP study that reported family caregivers spend on average, 26 percent of their income on caregiving expenses or over $7,200 annually. The uncompensated care saves taxes payers billions of dollars by delaying or even preventing admission to costly nursing home care and unnecessary hospital stays.  

The joint letter suggested that any tax legislation consider include a new, non-refundable tax credit of up to $ 5,000 for eligible working family caregivers would reduce the significant financial impact of caregiving.  Eligible caregivers caring for loved ones of all ages could receive the credit if the care recipient meets certain functional or cognitive limitations or other requires.  This tax credit would help working family caregivers regardless of whether they live with their loved one or if their loved one is a dependent. 

Overwhelmingly support for tax relief for caregivers 

A newly released AARP poll findings indicate that voters in competitive congressional districts want Congress to give financial relief to America’s family caregivers. The poll, conducted in late Jan. 2025, highlights a “clear, bipartisan mandate” say prominent pollsters from Fabrizio Ward and Impact Research. 

The bipartisan polling team conducted this survey of 3,000 registered voters nationally and 1,000 voters in the 28 most competitive House districts between January 27 and February 1, 2025. According to AARP, the districts chosen were the 15 Republican-held districts won by <5% of the vote in 2024, and the 13 Democratic-held districts that were also won by President Trump in 2024. The margin of sampling error for the national survey is ±1.8% and ±3.1% for the congressional districts survey.

The AARP poll findings reveal overwhelming voter support (84%) for Congress and the Trump Administration to act this Congress on a caregiver tax credit. Among various tax proposals currently being considered by Congress — including eliminating income taxes on Social Security, tips, and overtime pay—voters ranked passing a caregiver tax credit as their top priority. 

“America’s family caregivers put family first, helping their parents, spouses and others stay at home. They spend thousands of dollars every year on this care, while juggling work and family responsibilities,” said Nancy LeaMond, AARP Executive Vice President and Chief Advocacy & Engagement Officer in a statement released on Feb. 11, 2025 announcing the results of AARP’s poll. “Without them, millions of older Americans would be forced into costly nursing homes—many at taxpayer expense. As Congress debates tax policy, the message from voters is clear: lawmakers must prioritize financial relief for hardworking Americans who are caring for their aging family members. AARP urges Congress to put money back into the pockets of hardworking family caregivers by passing a tax credit,” she says.  

Bipartisan

The poll findings indicate that support for the caregiving tax credit spans party lines, with strong majorities of Republicans (84%), Independents (82%), and Democrats (87%) in favor.  And support for a caregiver tax credit (84%) outpaces support for continuing the 2017 tax cuts (51%).  

Seventy-six-percent of voters agree that “Before Congress extends any tax breaks for the wealthy and corporations, it should support working Americans with a tax credit to help cover the expenses of taking care of a loved one.”  

Family caregiving crosses party lines, with nearly two-thirds of voters (63%) serving as family caregivers at some point in their lives—many of whom struggle financially. 

Most voters (63%) say they are worried about their personal financial situation.  Family caregivers nationwide, many of whom face financial struggles, spend an average of $7,200 in out-of-pocket expenses each year—making it harder to afford essentials like groceries and bills.

“Voters over the age of 50 are a critical voting bloc that all candidates should compete for every election cycle,” adds Tony Fabrizio, partner at Fabrizio Ward. “Our poll found that Americans of all political stripes want leaders to support family caregivers. Candidates looking ahead to the 2026 midterms should pay attention to this issue if they want to win,” he said.

Could tax credits for caregivers become a reality?

Maybe.  During the 118th Congress, Republican and Democratic lawmakers came together to cosponsor legislation that called for federal tax credits for caregivers. S. 3702, with 11 Democrats, 3 Republicans and 3 Independents, was referred to the Senate Finance Committee.  Its companion measure in the lower chamber, H. R. 7165, with 81 cosponsors (72 Democrats and 9 Republicans), was referred to House Ways and Means Committee.  Both bipartisan bills never made it to mark up or even to the House floor for vote. 

Tax Notes reporter Alexander Rifaat, who covers the White House and Treasury, reported in a web article posted on Oct. 29, 2024 that Presidential Republican candidate Donald Trump supported tax relief for caregivers. Rifaat noted that during his 2024 presidential election, at a campaign event held at New York’s Madison Square Garden on Oct. 27, Trump called for a national tax credit for caregivers who are “never spoken of” and stay at home. 

At the campaign event,  Rifaat noted that Trump told the crowd:  “I will support a tax credit for family caregivers who take care of a parent or a loved one. And it’s about time they were recognized, right?” 

Now, as President Trump has an opportunity to keep this campaign promise by calling on the Republican-controlled Congress to work with Democratic lawmakers to give America’s caregivers financial relief, through the passage of a national tax credit legislation that will benefit them.  It’s time to work together and put caregivers before partisan politics.

For a copy of the National Legislative Priorities Survey, Feb. 2025, go to www.aarp.org/content/dam/aarp/research/topics/voter-opinion-research/politics/federal-tax-package-legislative-priorities.doi.10.26419-2fres.00921.001.pdf.

For a listing of organizations urging Congress in Jan. 7, 2025 correspondence to provide financial tax relief to caregivers, go to www.nase.org/sf-docs/default-source/advocacy-documents/financial-relief-for-family-caregivers-credit-for-caring-act-sign-on-letter-january-2025-(1).pdf?sfvrsn=e6b0e0f0_1

www.bls.gov/blog/2023/celebrating-national-family-caregivers-month-with-bls-data.html

To read AARP’s Research Insights into Caregiving, go to www.aarp.org/pri/topics/ltss/family-caregiving/aarp-research-insights-caregiving/.

New study gives Congress a road map to fix Social Security 

Published in RINewsToday on February 17, 2025

As Social Security celebrates its 90th anniversary on Aug. 14, 2025, this essential retirement program has long been facing a significant long-term financing gap.  According to the 2024 Social Security trustees report, unless Congress acts the trust funds will be depleted by 2035, forcing the program to reduce benefits by 17%.

With over 70 million retirees and individuals with disabilities receiving Social Security benefits, it is time for Congress to get serious about hammering out a viable bipartisan solution to resolving Social Security’s funding gap.  And a recently released report provides the groundwork for a policy that a partisan Congress might just consider.   

Last month, the National Academy of Social Insurance (NASI), AARP, the National Institute on Retirement Security (NIRS), and the U.S. Chamber of Commerce (USCC) released the results of a qualitative analysis study, on Jan. 29, 2025, detailing American views on Social Security, a federal “social safety net” program that provides income to people who are retired, disabled, or have dependents, helping them to plan for retirement and other life events.   

The new, recently released, 72-page report, entitled, Social Security at 90: A Bipartisan Roadmap for the Program’s Future, is a must read for the White House and Congressional lawmakers as they begin to debate specific policies that would make long-term fixes to ensure the long-term solvency of the America’s retirement program.  

The NASI survey, fielded by NORC at the University of Chicago, a nonprofit research organization, surveyed 2,243 Americans ages 21 and over. 

Unlike most public opinion research on Social Security, which asks about each policy option individually, NASI says that this survey, conducted in partnership with the Washington, DC-based Greenwald Research, a firm having extensive experience in public opinion and consumer preference research, features a unique trade-off analysis that examine which combination of product features – or in this case policy changes- that consumers prefer and are willing to pay for.

The study’s findings are also largely consistent with previous NASI 2012 and 2014 studies, Strengthening Social Security: What Do American’s Want? and Americans Make Hard Choices: A Survey with Trade-off Analysis. 

Sending a clear message to Washington

The NASI study’s findings indicate that Americans (across party lines, generations, income and education), strongly support Social Security and see it as the lynchpin for retirement security.  Only four percent state that they do not consider it to be an important income to draw on during retirement. 

Rather than ensuring the solvency of Social Security through cutting benefits, the survey respondents strongly support strengthening the program’s finances by raising revenues, noting the study’s findings.  Eighty-five percent of the respondents call for benefits not being reduced, even if this means raising taxes on some or all Americans.

According to the survey’s findings, the most strongly favored option is eliminating the cap on payroll tax contributions for those earning more than $400,000 per year and their employers, who would contribute to Social Security via payroll taxes on wages above that amount. Those affected would not receive additional benefits.

Additionally, respondents across all groups, including a majority of Republicans, say they are willing to pay more themselves by gradually increasing the payroll tax rate from 6.2 percent to 7.2 percent, to strengthen the program’s finances.  Workers earning less than $50,000 per year would not take financial hits. They would only contribute an additional $42 per month.

Don’t touch our benefits!

Given a broad set of policy options available to address Social Security’s financing gap, the respondents also reject benefit reductions such as keeping the full retirement age at 67 instead of further raising. Those surveyed also called for adjusting the annual cost-of-living adjustment (COLA) to more accurately reflect inflation and spending habits of older adults.

The NASI study also found that Americans want to strengthen Social Security benefits by adding a caregiver credit for workers who take time out of the workforce to care for young children and a “bridge benefit” to protect from the early claiming reduction of those in physically demanding jobs who may be unable to continue working up to full retirement age.

Finally, the study’s findings indicate that overwhelming majority of Americans (90 percent) see the need and valuable of Social Security’s disability benefits, too.  These respondents say that they will need Social Security’s disability benefits if they become disabled and unable to support themselves through work, and only four percent support cutting disability benefits. The survey also finds strong bipartisan support for updating outdated rules in Supplemental Security Income, including its $2,000 asset limit.

Statements from NASI and core partners

“At a time when our country is deeply divided, Social Security remains a powerful unifying force,” said Rebecca Vallas, NASI’s Chief Executive Officer. “This survey shows there is strong bipartisan agreement on how the American people want to secure the program’s future, and we urge policymakers to listen,” she says.

“It is rare in today’s political climate to see people unite around anything,” adds AARP Chief Public Policy Officer Deb Whitman, noting that all Americans want their Social Security benefits to be preserved. They are willing to do what it takes to ensure the program continues to provide meaningful support for future generations, she says.

“Social Security is the foundation of retirement security in the United States. This report clearly indicates both the important role that Social Security plays as a source of retirement income for older Americans as well as the priority the American people place on resolving the financing gap so that benefits are not cut indiscriminately,” said Tyler Bond, NIRS’s Research Director. “This research continues a long history of finding strong support for Social Security among the public,” he says.

Finally, stated: “These survey results show that Americans value Social Security and their private sector retirement benefits because they were unwilling to cut those benefits to finance Social Security,” says Chantel Sheaks, USCC’s Vice President of Retirement Policy. “Americans think of these together, and policymakers should as well,” he suggests.

Adding their two cents

“This survey shows that Americans — Democrats, Republicans, and independents alike — absolutely do not want to see cuts to Social Security’s modest benefits,” says Nancy Altman, President of the Washington, DC-based Social Security Works.

“Instead, they want the wealthy to finally start contributing their fair share. If necessary, they are even willing to pay more themselves. Any DC politician who supports benefit cuts is wildly out of step with the American people,” she notes.

“While the study’s findings are consistent with other major surveys on Social Security during the previous years, it is remarkable that despite the current tumultuous political environment, American voters have a deep emotional bond with the program and want to ensure that Congress protects and improves their benefits without cutting them,” says Dan Adcock, director of government relations and policy at the Washington, DC-based National Committee to Preserve Social Security and Medicare.

The NASI poll sends a strong signal to members of Congress that they should support legislation, like Rep. John Larson (D-CT) and Sen. Richard Blumenthal’s Social Security 2100 Act, that would extend solvency and improve benefits by having the wealthy pay their fair share of payroll taxes,” says Adcock. 

In one of President Trump’s rolling press conferences, he touched upon Social Security saying there were no cuts being proposed – if anything he would make the program stronger.

Social Security and the Ocean State 

In 2022, there were more than 233,000 Social Security beneficiaries in Rhode Island, including more than 172,000 retirees, 32,000 disabled workers, and almost 14,000 children,” says NIRS’s Tyler Bond, noting that all of these Rhode Islanders face the prospect of an indiscriminate benefit cut in a decade unless Congress acts to shore up Social Security’s financing. 

“This report has one clear takeaway: the American people do not want Social Security benefit cuts, and they are willing to pay more themselves to avoid those potential benefit cuts,” adds Bond.

In conclusion, the NASI report cites 84-year-old Elizabeth R. Virginia, about her personal views on America’s retirement program. “Social Security is one of the most dependable things that we have. You know that it will come again at the same time. Right now, I know the second day of every month, it is there,” she says.

As Virginia knows, she can count on receiving her monthly Social Security check.  The program has never missed a payment in nine decades.  Congress must now work together to ensure that this never will happen.

For a copy of NASI’s Social Security report, go to www.nasi.org/wp-content/uploads/2025/01/NASI_SocialSecurityat90.pdf

For copy of NASI’s issue brief, “America’s View on Social Security,” go to www.nirsonline.org/wp-content/uploads/2024/07/FINAL-Views-on-SS-July-2024.pdf/

For statistics on RI Social Security beneficiaries, go to Source for RI statistics, go to www.ssa.gov/policy/docs/statcomps/oasdi_zip/2022/ri.pdf.

Older adults attract scammers with popularity of cyberdating

Published in RINewsToday on February 10, 2025

Digital technology is not just a way to find information and news, shop, or even search and apply for jobs.  For older single adults, getting back into the dating scene can be difficult. It could be after a divorce, or death of a spouse, or just deciding some years too late that having a mate is something desirable at this time of your life.

Dating rules have changed since years ago. But, since the mid-1990s, when Match.com, the world’s first online dating website was launched, millions have utilized internet dating as a way to meet potential partners without leaving their home.

Today, online dating, sometimes referred to as cyber-dating, has replaced traditional ways (like belonging to civic groups, clubs and attending church) singles use to find that special person.

Even though many might consider on-line dating a crap shoot in finding that perfect person to spend the rest of your life with, a growing number of older adults are using online dating platforms.  And many, unfortunately, are falling for online dating scams, as well.

A Snapshot of Older Online Daters

Last July, an article penned by Olivia Sidoti, research assistant, and Michelle Favero, research associate at Pew Research Center, provided an analysis of how older adults experience dating sites and apps and their views of online dating.

The data, obtained from a survey conducted in July of 2022,  was taken from a 74-page report, “From Looking for Love to Swiping the Field: Online Dating in the U.S., released on Feb. 2, 2023.

According to the Pew study, about a quarter of older Americans in their 50s have used an online dating site, compared to 14% percent in their 60s and 12% in their 70s and older.

However, just 3% of the older respondents are currently using online dating platforms or have used them with the last year, compared with 15% of those under age 50.

The Pew study found that 6% of the respondents over age 50 who were married, living with a partner or in a committed relationship, found their significant other online.

With so many dating sites and apps available to choose from, the survey findings indicate that about 1 in 5 online daters have used Tinder.

About half of the adults age 50 and over cite seeking a long-term partner or spouse as the reason they have online dated in the past year. Meanwhile, about 36% say they want to date casually, with 22% saying their motivation is casual sex.

The researchers found that women aged 50 and over are more likely than males who use a dating site or app to say their dating experiences have been negative.

About half of the online daters ages 50 and over say they have encountered someone who they thought was trying to scam them.  Furthermore, about four-in-ten online daters ages 50 and older (45%) report unwanted behaviors while seeking a date online. Specifically, they were sent sexually explicit content they didn’t ask for (33%), and 26% were continually contacted after they expressed disinterest. Seventeen percent of the older users report they were called offensive names, and 4% were physically threatened.

Protecting Yourself When Online Dating           

According to the Centers for Disease Control and Prevention (CDC), nearly one in four individuals older than age 65 are considered socially isolated. Older adults are at risk of isolation and loneliness due to living alone, loss of family and friends, chronic illness and hearing loss.  

CDC says that there are also physical health risks as well. Those dangers include significantly increased chances of an early death, 50% increased risk of dementia, 29% increase in the likelihood of developing heart disease and a 32% higher chance of having a stroke.  

There’s a Class for that!

With so many older adults not having meaningful relationships with their family or without having a significant partner, Sun City, Arizona-based Banner Olive Branch Senior Center offered a class covering the basics of finding love and companionship online.    

“We feel this is an important topic to address because there are many seniors [in our community] who are alone,” says Jackie Cromer of Banner Olive Branch and instructor of the online dating class held last April. “It’s an approach to add some fun and excitement into their lives and allow seniors to feel connected and potentially even find love,”  she said.

The class covered which dating sites to select, how to write and choose photos for your dating profile, the best ways to find and connect with potential matches, how to handle rejection, and emphasized safety tips such as not giving personal information, meeting in a public place, transporting yourself to the date and letting loved ones know your whereabouts. 

Tips on Protecting Yourself Against Romance Scams

As a growing number of older adults go online to search for that special person, scammers take advantage of these individuals. According to the Federal Trade Commission (FTC), in 2022 almost 70,000 people reported being a victim of a romance scam.

Be aware of “red flag” indicators of a potential romance scam, when approached on a dating site, warns Home Security Investigations (HSI), the principal investigative arm of the U.S. Department of Homeland Security, noting that scammers seek to gain the victim’s trust and then provide false information or misrepresentation to gain a financial benefit.

Here is some advice from Home Security Investigations (HSI):

HSI urges older online daters to watch out for the following indicators of a potential romance scam, when a potential partner:  

·         Claims they live, work or are traveling abroad.

o    Lacks proper grammar, although they claim to speak English.

·         Claims to be notably younger than you.

·         Quickly professes love to you.

·         Has a story that is inconsistent.

·         Has a minimal online presence.

·         Sends general photos (mostly fake/AI generated) of themselves traveling, shopping, or dining at luxurious locations.

o    Sends or requests explicit photos or videos.

·         Mentions the idea of meeting and being together soon.

·         Provides periodic excuses for being unable to make a video call (e.g., Facetime).

o    If a video call happens, you’re unable to see their face clearly.

·         Requests to have conversations/texts be moved to a separate app (e.g., WhatsApp, Telegram).
Asks for money, often via non-traditional methods such as cryptocurrency or gift cards.

o    Asks if you’ve ever invested in cryptocurrency and/or foreign exchange market.

o  Sends a business link of a cryptocurrency and/or foreign exchange trading platform.

o    Is combative with you or tries to divert your attention when you question their intentions.

Lastly, if your bank contacts you to express concern you are being victimized, this is perhaps the most significant red flag that you are being targeted.

You can also call the AARP Fraud Watch Network Helpline at 1-877-908-3360 to talk with a trained specialist about protecting yourself when seeking a relationship on a dating site.

Matchmaker, Matchmaker, make me a match!

Many are now saying that the most successful way to find that appropriate partner is to be introduced to her/him by someone you know – be that family or friend. And, while not plentiful, and sometimes expensive, matchmaking services that match you up for a date, one on one, are around, even in Rhode Island. The good part is they will coach you on what to where, what to talk about if it’s been awhile since you had a date-convo, and if after the date, it doesn’t work out, they will handle the uncomfortableness of that conversation with the other party – and keep working on your behalf. Some matchmaking services advertise on local radio, and that may be a good place to start. All the rules of scams and checking out the company or person are still advisable, of course – ask for references!

And let us know how it goes – until then – Happy Valentine’s Day (week)!

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