A bi-partisan bill has been reincarnated by lawmakers that would make adoption more affordable for families throughout the country.
The bill would revive the refundable portion of the present adoption tax credit, Senator Roy Blunt (R-Mo.) announced in a press release on June 10.
“Over 100,000 children are waiting for adoption into a family who can give them the loving home they deserve,” Blunt said, as reported by Fox 12 Oregon. “I urge my colleagues to join me in this effort to make adoption a more viable option for parents who are eager to welcome a child into their home.”
Blunt combined his efforts with Senators Bob Casey (D-Pa.) and James Inhofe (R-Okla.) to compose the legislation, dubbed the Adoption Tax Credit Refundability Act of 2019.
“My family knows firsthand the joys and blessings adoption brings,” Inhofe said. “But adoption is not without its difficulties and, too often, can be a costly process. Making the adoption tax credit fully refundable will ease that financial burden so more families can choose to adopt and welcome children into their homes.”
Almost one-third of all adopted children reside with families that have an annual income at or below 200 percent of the poverty level, according to Blunt, who cited the Department of Health. He reasoned that several of these families’ income taxes are so low that they don’t benefit from the adoption tax credit in any form. It only assists them if it is refundable.
“It is a common misconception that only wealthy families adopt,” Casey added. “We must do all we can do to ensure that all children are afforded the opportunity to grow up in a permanent, loving home.”
Previous versions of the legislation were brought up in 2013, 2015 and 2017. The bill is supported by the Adoption Tax Credit Working Group Executive Committee, which includes 150 organizations.
Read Fox 12 Oregon’s article here.