Chuck Grassley: “In the recent past, Congress has also taken some positive steps to promote adoption through tax credit. In 2001, as…”

“In the recent past, Congress has also taken some positive steps to promote adoption through tax credit. In 2001, as chairman of the Finance Committee, I extended and expanded two important provisions which provide tax relief for adoptive families. The 2001 tax bill ensured that neither adoption tax credit, nor the exclusion from income for qualified employer-paid adoption expenses expired. In addition, the amount of each of these benefits was doubled--i.e., from $5,000 to $10,000 per qualifying child. Finally, in the case of special needs adoptions, Congress eliminated expense reporting requirements thus ensuring that the families who take special needs children into their homes receive the maximum relief possible under these provisions, while minimizing their administrative burdens.”