News Flash: The Adoption Tax Credit Saved!
BAAS is pleased to announce that the House of Representatives has preserved the adoption tax credit and the Senate has preserved the ATC in their newly-released tax reform proposal.
Adoption is a cause that unites citizens across party lines. People with differing beliefs and priorities can all agree that children deserve the opportunity to thrive in loving, permanent families. Over the past few weeks, champions in the House and Senate have chosen to take a firm stand for children and families, insisting that the adoption tax credit remain a national priority. With 75,000 children adopted in 2014 by non-relative American parents and thousands more kinship adoptions, we know that the tax credit makes a huge, tangible difference. Families may need additional support to care for their children’s particular needs and the adoption tax credit can help reduce the financial stress associated with welcoming a child into one’s home. In fact, we ask Congress to make the tax credit refundable, which would have a bigger impact for middle- and lower-income parents.
In the past week, thousands of families, professionals, and adoption advocates have stepped forward through AdoptionTaxCredit.org to share how the adoption tax credit makes a difference. Congress has heard your voices loud and clear. We hope that advocates across the country are encouraged to see that your voices have effected change.<
The journey is not over, though. These tax reform proposals are working documents and may undergo changes before they reach a final vote. If you haven’t contacted Congress about the adoption tax credit—or if it’s been a while since you last reached out—now is the perfect time to reaffirm Congress’s decision to maintain the ATC’s current availability and amount, and ask Congress to make it refundable. Go to AdoptionTaxCredit.org/Take-Action to send a message to your elected officials. Be sure to send a word of thanks to your Members of Congress, the House Ways and Means Committee, and the Senate Finance Committee. In particular, BAAS applauds the work on Chairman Kevin Brady and Representatives Mike Kelly, Diane Black, Trent Franks, and Danny K. Davis for their efforts to #SaveTheATC.