By Michelle Millhollon, Office of U.S. Sen. John Kennedy
WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-LA) has been in talks with and has sent a letter to Senate Finance Committee Chairman Orrin Hatch (R-UT), strongly urging him to maintain the Adoption Tax Credit when the committee moves forward on tax reform legislation.
“I believe that an important part of being pro-life is being pro-adoption,” Kennedy said. “With so many children in need of loving families, we should do everything in our collective power to make the adoption process more accessible and affordable for families who want to provide a caring home to these children. The adoption tax credit goes a long way towards achieving that goal.”
The complete letter is shown below:
November 8, 2017
The Honorable Orrin Hatch
Senate Committee on Finance
219 Dirksen Senate Office Building
Washington, DC 20510-6200
Dear Chairman Hatch,
Since 1997, the Adoption Tax Credit has encouraged families to consider adoption by increasing its affordability. I strongly encourage you to maintain the Adoption Tax Credit when the Senate Committee on Finance moves forward on tax reform legislation.
Adoption typically costs a family between $60,000 and $70,000. Most adoptive families are considered middle-income taxpayers. Adoption costs can be prohibitive for these families if they are not offset, even if the family has a desire to give a forever home to a child who needs one. The Adoption Tax Credit of up to $13,570 helps make those adoption expenses more manageable for these families.
In 2015, there were more than 670,000 children who spent time in U.S. foster care and 62,000 of them were waiting for adoption. In my home state of Louisiana nearly 5,000 children are in foster care with over 500 of them waiting for adoptive families. Although the tax credit costs nearly $355 million, we know that the federal government actually saves between $65,000 and $127,000 on every adopted child because these children are spared long-term foster care. These savings are established from reduced need for direct child welfare services. Most importantly, there is no way to put a price on the impact that a loving family has on a child’s present and future.
I believe that an important part of being pro-life is being pro-adoption. With so many children in need of loving families, we should do everything in our collective power to make the adoption process more accessible and affordable for families who want to provide a caring home to these children. The adoption tax credit goes a long way towards achieving that goal.
As you consider tax reform, I respectfully ask that you maintain the adoption tax credit so that we can continue to provide financial support to our adoptive families. I appreciate your consideration on this matter.