May 8, 2012
May 8, 2012
By Holt International
Since 1997, the adoption tax credit has helped thousands of American families offset the high cost of adoption. Beginning in 2003, families that adopted children with special needs could claim the full credit, regardless of their qualified adoption expenses.
Ultimately, this credit has made it possible for children to join loving families — families that might not otherwise have been able to afford the cost of adoption. But right now, this important resource is in peril.
The current adoption tax credit is set to expire on December 31, 2012. If that happens, many American families may not be able to afford the cost to adopt. Consequently, fewer children will find the loving, permanent families they deserve. Although the credit remains through 2012, many families will not benefit because it is not refundable. In 2013, the credit will decrease to only $6,000. What’s more, it will only be available to very few adoptive families.
The adoption tax credit must continue. For many families, it may be the deciding factor in whether to adopt. And for many children, it is the critical link to a loving, stable home.
Congress must act now to pass legislation that will protect and extend the adoption tax credit.
Take action today! You can find your representative and senator’s contact information by visiting here.
On April 17, Representative Bruce Braley introduced the Making Adoption Affordable Act (HR 4373). If you are contacting your representative’s office, ask your representative to become a co-sponsor of HR 4373. There is no companion legislation in the Senate yet, so you can simply ask your senators to support an adoption tax credit that is inclusive, refundable, flat for special needs adoptions, and permanent.
For more resources and information about the campaign to save this important credit, visit Save The Adoption Tax Credit at www.adoptiontaxcredit.org.
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