President Obama Receives Praise for Adoption Tax Credit Proposal

5
Mar

A broad group of adoption organizations from all sectors of adoption—including foster care, international and private—join together in thanking President Obama for his recent proposal to make the U.S. federal adoption tax credit permanent. The President’s Fiscal Year 2013 federal budget puts forth a proposal to make the adoption tax credit permanent and extend the provisions of the Affordable Care Act that make the credit refundable for 2012 and 2013. The refundable aspect is vital to some families’ ability to access the credit and there is broad support for ensuring that all families that adopt are able to benefit equally.

 

The adoption tax credit is a critical support for families who chose to form their families through adoption. The diverse groups that support the extension of the tax credit are working together to encourage members of Congress to move this from a proposal to tangible legislation. If Congress does not act to extend the credit, it will only be available to a limited number of families after 2012.

 

 

Adoption is a bipartisan issue; in fact ever since the adoption credit was first established in 1996, Congress has acted to extend this credit every time it was set to expire. However, because the credit has changed several times and is frequently up for discussion, it leaves room for great confusion and uncertainty about the availability of the credit among key stakeholders, including professionals, parents, and tax preparers. Having a permanent credit in place will help eliminate future confusion.

 

 

“We are all pleased to be working together, with a unified voice, to advocate for the needs of families that choose to adopt. We look forward to building the support on Capitol Hill to ensure that all families that adopt children have access to this benefit long term,” says Nicole Dobbins, Executive Director of Voice for Adoption.

 

 

Signatures are being collected on a petition from Change.org to move the President’s proposal to legislative success. Together we can encourage Congress to enact legislation that will allow more families to pursue adoption and allow more children to find their forever family.

 

 

Sheri Molnar is the Director of Operations and Finance at MLJ Adoptions. Visiting children living in institutions in Honduras and Congo has provided her with a tremendous motivation to come into work each day and work tirelessly on behalf of children in need of loving, permanent homes.

Sheri Molnar is the Director of Operations and Finance at MLJ Adoptions. Visiting children living in institutions in Honduras and Congo has provided her with a tremendous motivation to come into work each day and work tirelessly on behalf of children in need of loving, permanent homes.