A bill to amend the Internal Revenue Code of 1986 to provide an income tax credit for eldercare expenses.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4647 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4647 To amend the Internal Revenue Code of 1986 to provide an income tax credit for eldercare expenses. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 1, 2026 Ms. Klobuchar (for herself and Ms. Smith) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide an income tax credit for eldercare expenses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Americans Giving Care to Elders Act of 2026'' or the ``AGE Act of 2026''. SEC. 2. CREDIT FOR ELDERCARE EXPENSES. (a) In General.--Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25F the following new section: ``SEC. 25G. EXPENSES FOR ELDERCARE. ``(a) Allowance of Credit.-- ``(1) In general.--In the case of an individual for which there are 1 or more qualifying individuals with respect to such individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the applicable percentage of the eldercare expenses paid by such individual during the taxable year. ``(2) Applicable percentage.--For purposes of paragraph (1), the term `applicable percentage' means 20 percent, reduced (but not below zero) by 1 percentage point for each $4,000 (or fraction thereof) by which the taxpayer's adjusted gross income for the taxable year exceeds $120,000. ``(b) Definitions.--For purposes of this section-- ``(1) Qualifying individual.--The term `qualifying individual' means an individual-- ``(A) who has attain