Last week, American Adoptions and other adoption professionals around the country urged their communities to contact their local representatives about the proposed elimination of the federal adoption tax credit. Your hard work has paid off — lawmakers have reinstated the tax credit in the revised version of the bill!
On Thursday afternoon, Republican senators released the revised version of the Tax Cuts and Jobs Act after House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced an amendment to reinstate the tax credit. The bill still needs to be voted on and could undergo additional revisions, but this is a positive first step.
We encourage you to thank your representatives for helping to preserve the adoption tax credit, especially Chairman Brady and Representatives Mike Kelly (R-PA), Diane Black (R-TN), Trent Franks (R-AZ), and Danny Davis (D-IL).
But the work isn’t over. As the bill continues to move through legislative review, Congress has the opportunity to protect the current availability and amount of the adoption tax credit, as well as the opportunity to reinstate the refundability of this credit moving forward. Please continue to express the importance of the adoption tax credit to your representatives, because this is a great opportunity to enhance the current tax credit.