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Parents Approve of Bill Encouraging Adoption
CEDAR RAPIDS, IA (CBS 2/FOX 28)--November is National Adoption Month and adoptive families came together this morning to talk about the benefits of extending a special tax credit.
Representative Bruce Braley is working to get congress to approve his Adoption Tax Credit Refundability Act which would make the adoption tax credit fully refundable to families.
The adoption tax credit gave families back money if they adopt a child.
In 2010 and 2011 the credit was refundable, and even though the credit was made officially permanent in 2012, the refundable portion was not.
For Amber Haufle motherhood is a dream come true.
"I love it. That's all I wanted to be when I was growing up was a mother, she said.
Through the adoption process that dream is now a reality.
Three sisters and one little girl now call her Mom.
"I never thought that this was going to be the way I did it, but I wouldn't trade it for anything, Haufle said.
That is why she says the adoption tax credit should be fully refundable and many parents agree.
"Not only is it some financial compensation for the process of adopting but it also provides us with the support and thanks that we as adoptive families deserve, said Theresa Lewis, Director of Iowa Kids Net.
Right now the adoption tax credit is just that, a tax credit.
That means retired parents or non-working parents can't take advantage of it.
It's why Representative Bruce Braley introduced the Adoption Tax Credit Refundability Act.
"So whether you are able to take advantage of the tax credit or not, you're going to get the benefit through full refundability, he said.
Amber says it's all part of making sure her children get the help they need to succeed years later.
"It takes a lot of work, it takes a lot therapy. And that's what this tax credit does. It gives them that opportunity, Haufle said.
According to the IRS data, 62% of filers in 2011 benefited from the refundable adoption tax credit.