Making Adoption Affordable Act
WASHINGTON—U.S. Senator Mary L. Landrieu, D-La., today introduced the Making Adoption Affordable Act to support families that have made the wonderful decision to adopt. The Adoption Tax Credit (ATC) helps defray the sometimes high administrative fees associated with adoptions, ensuring that families that want to adopt are not discouraged by the high cost of the process. The Making Adoption Affordable Act will make the ATC a permanent part of the tax code and make it refundable, which would allow adoptive families to receive a tax refund in excess of their tax liability. Original co-sponsors of the legislation include Sens. Roy Blunt R-Mo., Ben Cardin, D-Md., and Kay Bailey Hutchison, R-Texas.The Making Adoption Affordable Act: • Permanently expands the ATC and provides up to $13,170 for covered adoption expenses, adjusted for inflation;• Makes the ATC refundable, which particularly benefits families adopting from foster care for two reasons:If you haven't done so already, go here to HELP SAVE the Adoption Tax Credit and ensure it is not lost in 2013!Update: Originally published on September 21, 2012 at http: // www .landrieu .senate.gov / ?id= 3378&p=press_release (spaces were added to the URL because link is no longer working)
• Lower Expenses. Those adopting from foster care incur lower administrative expenses than those adopting from an agency or from a private adoption attorney. Refundability permits a family adopting from foster care to receive support to care for a child even though the actual cost of adoption was minimal;
• Lower Tax Liability. Families adopting out of foster care statistically are of lower income than those adopting with an agency or internationally. A lower income means that the family is in a lower tax bracket, thus the ATC is more likely to be in excess of a family's tax liability.The ATC was first passed in 1996 and since then, preserving and expanding the ATC has been a bipartisan priority of Congress and the White House.