Comprehensive Long-Term Care Support Act of 2006 - Amends the Internal Revenue Code to allow a deduction from gross income (available for taxpayers who do not itemize deductions) for the cost of long-term care premiums for the taxpayer and certain family members, including the taxpayer's spouse, ancestors, or lineal descendants. Phases in the deduction by allowing the deduction of 50 percent of the cost of premiums in 2007, 75 percent in 2008, and 100 percent in 2009 or thereafter. Allows long-term care insurance as a benefit under tax-qualified cafeteria plans and flexible spending arrangements.
Allows a tax credit for caregivers of individuals with long-term health care needs. Phases in a $3,000 credit amount for 2011 or thereafter, beginning with $1,000 in 2007, $1,500 in 2008, $2,000 in 2009, and $2,500 in 2010. Reduces the amount of the credit for taxpayers with adjusted gross incomes over $75,000 ($150,000 for joint returns), adjusted for inflation after 2007.
Increases funding for the the National Family Caregiver Support Program and the Native American Caregiver Support Program.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.