Community› The Bump Message Boards› Adoption
Adoption
New Discussion
Options

Tax credit to expire in 2010?

crystalpopcorncrystalpopcorn member
in Adoption

Have you guys heard about this? ?I know that many families could not afford adoption without the tax credit.?Are you doing anything to lobby to make the tax credit permanent??I'm thinking about writing a letter to my congressmen.?

Lilypie Fifth Birthday tickers Lilypie Third Birthday tickers
Report Reply to Post

Re: Tax credit to expire in 2010?

  • Options
    noonecarewhoiamnoonecarewhoiam

    I agree this is concerning--while it wouldn't end completely, it would roll back to $5K-$6K, which is absolutely nothing in terms of adoption expenses for many of us!

    I plan to contact our congressman--we sort of only have 1 right now (I live in IL).

    Report Reply
  • Options
    FinallyMrs.GFinallyMrs.G
    That would be devestating to us, we are very much looking forward to that tax credit. Why in these times would that happen?? Yes, we should all write a letter. I will do the same if this in fact is true.
    Warning No formatter is installed for the format bbhtml
    Report Reply
  • Loading the player...
  • Options
    crystalpopcorncrystalpopcorn member

    Here is some information. ?I am sure there is a better source, but this is what I could find in a hurry.?

    https://tinyurl.com/bylnpb

    Also, in speaking with one agency, the tax credit has increased to 12k in 2009, with the phase out starting at an income of 200k. ??

    Lilypie Fifth Birthday tickers Lilypie Third Birthday tickers
    Report Reply
  • Options
    noonecarewhoiamnoonecarewhoiam
    In a nutshell, the increase was part of the Bush tax cuts, which are set to expire.
    Report Reply
  • Options
    miss1180miss1180 member

    i'm literally sitting here in tears that this might even be a possiblity :-( :-(

      i have a genetic condition, that makes me infertile, and also comes with possible health risks if i do get pregnant... so adoption is pretty much the only way we will be able to build our family :-( i have know about this almost my life, and have wanted to do an international adoption since i was 9 or 10 years old.

      we are both hardworking people who make a decent amoutn of money- but not enough to pay the almost $28,000 adoption costs! :-( we were counting on this to help us build our family... i don't even know what to think now.

     they talk about cutting this kind of funding, that helps good people have families....but yet give handouts to parents who don't work, are on welfare, and keep having kids....

    Report Reply
  • Options
    crystalpopcorncrystalpopcorn member

    I'm sorry. ?I wasn't trying to be an alarmist, and certainly didn't intend to bring anyone to tears. ?I assumed most people here knew more about it than I did, which is why I asked the question initially. ?There is a good chance that it will not be cut. ?So many families count on it. ?Miss 1180, I completely agree with your last statement on so many levels. ?

    If this was part of the Bush tax cuts that are set to expire, then there is even more hope. ?I read the following on MSNBC today:?

    "Obama's budget also extends the middle class tax cuts passed by the Bush administration in 2001 and 2003. Those cuts were due to expire at the end of 2010. If Congress approves Obama's recommendations, the Bush tax cuts would expire only for couples making more than $250,000 per year."

    I guess the best way to guarantee it does not expire is for all of us to write to our congressmen and women and ask them to please make the tax credit permanent.?

    Lilypie Fifth Birthday tickers Lilypie Third Birthday tickers
    Report Reply
This discussion has been closed.
Choose Another Board
Search Boards
"
"