The adoption tax credit should be permanent and refundable. We adopted a sibling set of 4 in 2012 and we had to buy a bigger home and car in order to accommodate our larger family. Now we are being asked to adopt their 2 younger siblings and we plan on doing so in faith because we know it's the right thing. Since we are middle income, we have little tax liability and benefit very little to not at all from a tax credit that is nonrefundable. It is so evident that these children in foster care cost our country millions and if they are not adopted and become welfare dependent or end up in the prisons - as many of them do - they will cost the government even more. Adoption into stable families is what these children need. The government needs to renew the tax credit and make it refundable in order to support adoptive families!
My family is currently looking to adopt a family group from the foster care system. This tax credit would allow us to make improvements to the house to support their needs and provide opportunities for them to participate in special programs to help them recover from past trauma. Many like us want to take on the responsibility of adopting children from State run programs but would appreciate extra financial support to enrich all lives involved.
We just adopted a sibling group of 5. While there medical care is covered, they will all need braces (not covered). We were these kids only chance to stay together and could not say no. We love them very much and will not benefit from the nonrefundable credit as the only taxes we will be required to pay are Social Security from being self employed...the credit does not help in this area. We do not make a lot of money and with 5 children....not much in actual income taxes.
It saves taxpayers in the end. One time lump sum adoption tax credit payment. No more payments to foster parents, school lunches, government healthcare, or food stamps. Breaks the cycle of living off the government mentality. Plus the children are much more likely to be raised with morals and values than those raised in countless foster homes or with drug addicted parents.
As for international adoption- plain and simple. Get the children out of those orphanages and give them a chance at life. Otherwise it is drugs, prostitution or suicide.
We are adopting 4 children, 2 nieces, 2 nephews. We already have 4 children of our own. We didnt plan on this, we certainly didnt double the size of our family for money. The adoption tax credit could help people like us maintain what we had in place for our own children, without dividing it in half. That credit indirectly helps pay back for mental health services, numerous dental surgeries that we have paid out of pocket! We bought a huge passenger van so that we could fit our family, we built an extra bedroom and paid a lawyer and we did that on our own. It would be a blessing to families like ours that are doing what we can on our own with limited means. Adoption cost much more than $$ but wouldnt it be nice to have one less thing to worry about?
Some of the most amazing people I know have been willing to not only open their hearts and homes to one adoptable child, but are willing to do it over and over again. These people are not wealthy monetarily, but are very wealthy with the love and parenting skills necessary to raise children that the world would consider dispensable. Much clamor is heard about peoples' rights to government funded abortions, and no one seems to be upset about government monies being spent to end lives. How much more should we be willing to have government monies go toward rescuing lives! Make the tax credit not only renewable, but make it refundable so that these amazing families can adopt all of the children their hearts desire! And don't worry about people taking advantage of the government and making money off of the system. The refund is only used toward the expenses already incurred that are directly related to the costs of adopting.
Caring for children in the foster care system costs much more than the proposed tax benefit. The children are "wards of the state," so the state bears a financial responsibility to the children just like a parent might. This takes the form of medical care, mental health services (an initial evaluation is always required, to say nothing of the likelihood of further treatment), clothing allowances, transportation to visitations, hearings, etc. and a monthly stipend to the foster home to cover food and basic care. (Don't fret, the foster family stills pays plenty out of pocket).
So yes, it is a cheaper option to incentivize the prospective parents to adopt. And while the adoptive parents don't do it for the money, the doctors, therapists, psychologists, psychiatrists, and pharmacies do not provide their services out of the goodness of their hearts.
We have adopted a special needs child through the foster care system and having the adoption tax credit would enable to purchase more of his therapy equipment for our home use. Insurance only covers so much. The credit is in no way an incentive to adoption. We did not even learn about this until after our adoption was finalized.
For those of you who are insensitive to the needs of America's children and couples who aren't able to have more children, keep in mind that at the end of the informational meetings at most of these unhelpful agencies, the massive prices of adoption seems to diminish their hope especially when the social workers working for these agencies provide very little information regarding helpful tools and resources that could be of great help. I do not see the tax credit as a handout, but a way to minimize the astronomical costs associated with adopting.
We are looking to adopt. We are a resource family for a 2 year old medically fragile child. Why should we adopt when the government will pay us $4,800 for clothes the next 16 years and $14,000 in mileage if we don't adopt. If we adopt we will only receive $6,000 now vs. $19,000 over 16 years. We can also receive benefits for activities, sports etc. The government will have to employ social workers to make sure we get paid. Pay lawyers and judges to check on us every 6 months. But by keeping the foster care system full we can justify these expenses.
It only makes sense to pay out tax credits to encourage people not to milk the system.
Yes they should have a sliding scale. You could abuse this system by being a foster parent for 17 years then adopt at age 17. Yes then I would agree that is to much to pay. But the $13,000 tax credit seems quite good for both the parent and the government for an infant or toddler.
The adoption tax credit provides an incentive for people to adopt kids even if they don't want them. This leads to children growing up in uncaring environments just so the people who adopted them can make some more money. The tax credit has good intentions but good intentions do not mean good results!
The act of adoption should be an act of righteousness - not of tax benefits. Those who adopt should not be rewarded through money as the spirit of adoption lies in the heart, not in the wallet. Also, we cannot reduce taxes anymore in a country that is supposed to continue it's freedoms.
It is true that we want more people to adopt, but we want them to do it for the right reasons. A tax benefit should not be one of those reasons. There are costs to taking on a child in any capacity, so the tax credits that are provided should be the same ones any parent gets.