Rep. Bruce Braley (IA-01) today urged a Congressional panel to include an extension of the adoption tax credit in a tax extension package being considered by the House Ways and Means Committee. If Congress fails to act, the adoption tax credit will expire at the end of 2012.
"Deciding to adopt a child is one of the most compassionate decisions a couple can make," Braley said. "Unfortunately, it also carries with it significant financial costs.
"Renewing and expanding the adoption tax credit will help remove a barrier to more families deciding to adopt. It's a small investment that provides a big return: getting more children into loving homes and out of the costly foster care system.
Rep. Pat Tieberi (OH-12) endorsed the adoption tax credit after Braley delivered his testimony, speaking of his experience with the Dave Thomas Foundation in Ohio.
Two weeks ago, Braley introduced the Making Adoption Affordable Act, legislation that would permanently expand the federal adoption tax credit to $13,360 and make it refundable -- allowing more families to take full advantage of it. More information on Braley's bill can be found at the following link: http://go.usa.gov/yo0