GOP Tax Plan Proposes to Eliminate Adoption Tax Credit

CONWAY, Ark.- Republicans say their new tax plan, released this week, is designed to get rid of loopholes and level the playing field, but several parts of it have received backlash including the possible elimination of the adoption tax credit.

Congress passed the adoption tax credit back in 1997 to give parents across the country an added incentive to adopt.

Arkansas State Representative David Meeks, a Republican, says the overall bill is a good start but he has huge concerns with the elimination of the adoption tax credit.

He supports the idea of streamlining the tax system to be simpler but is afraid getting rid of the adoption tax credit will raise taxes on families who want to open their homes.  Meeks says that could prevent some from being able to adopt in the first place, and may even make an argument in favor of abortion.

"Even though a family over the long term may be able to afford the baby, just the upfront cost might be the hurdle that they might not be able to get over," says Rep. Meeks.

Representative Meeks says the cost of private adoption can be astronomical and getting some of the money back to invest in your family could be a deciding factor for people on the fence.

"We're trying to relay our concerns to our Congressmen as well as our Senators in case it does get over to the Senate," says Rep. Meeks.

Right now, this tax credit could allow families to save more than $13,000 a year.

The Republican tax bill is still in its early stages.  The House has plenty of work to do before a vote.  President Trump has said he hopes to see it passed and signed into law by Christmas.

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