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ACLI: Senate Gets LTC Tax Break Companion Bill

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NU Online News Service, June 25, 2003, 5:13 p.m. EDT – Sens. Charles Grassley, R-Iowa, and Bob Graham, D-Fla., have introduced the Senate version of a bill that would create an “above-the-line” income tax deduction for long term care insurance premiums and a tax credit for providers of informal long term care, according to the American Council of Life Insurers, Washington.

A number for the bill, The Long-Term Care and Retirement Security Act of 2003, was not available at press time.

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The Senate bill is a companion to H.R. 2096, which was introduced in the House by Reps. Nancy Johnson, R-New Britain, Conn., and Earl Pomeroy, D-N.D.