The April 17th deadline swiftly came and went, and for most of us, our yearly tax headache has finally subsided. In February, we provided information on how the 2011 Adoption Tax Credit affects you. Now, as we look to our near future, there is a very pressing matter at hand. After going through a number of iterations, increases, and restrictions in the past fifteen years, the current Adoption Tax Credit is set to expire on December 31, 2012. Instead, of ensuring that all families can benefit from this credit, the Adoption Tax Credit will revert back to its original parameters of a $6,000 non-refundable credit that will only be available to a limited selection of adoptive families.
On Tax Day, Iowa Rep. Bruce Braley introduced the Making Adoption Affordable Act (HR4373) to the House of Representatives. This bill aims to establish a permanent, inclusive benefit to all adoptive families, helping to offset the high costs of adoption related expenses. Under this bill, the Adoption Tax Credit would be:
- Permanent, with no future expiration date.
Rep. Bruce Braley said, “Renewing and expanding the adoption tax credit will help remove a barrier to more families deciding to adopt. It’s a small investment that provides a big return: getting more children into loving homes and out of the costly foster care system. When a policy puts more kids in loving homes and also saves taxpayers millions of dollars in the process, expanding it should be a bipartisan no-brainer.”
The Making Adoption Affordable Act is extremely important because it permanently ensures all adoptive families receive relief from their adoption expenses, and it makes adoption a viable option for those who may not think that they can afford it. And, like Rep. Braley said, it provides a big return for everyone. It’s a no-brainer.
Please join us in advocating for the Making Adoption Affordable Act by writing your local congressperson to inform them about the urgency of this issue. Below is list of contact information for local representatives on the committee of Ways and Means, and also a sample letter you can use to urge our lawmakers to pass this important bill. For more information, please visit our partners at Save The Adoption Tax Credit.
New York Representatives:
New Jersey Representative: