Caregiver Assistance and Relief Effort Act of 2005 or the CARE Act of 2005 - Amends the Older Americans Act of 1965 to increase and extend the authorization of appropriations for the national family caregiver support program, including caregiver support programs for Native Americans, through FY2006.
Amends the Internal Revenue Code to: (1) allow caregivers a tax credit for family members with long-term care needs; (2) allow a tax deduction for long-term care insurance premiums; and (3) apply certain consumer protection provisions to long-term care insurance contracts.
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