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Hope for Children Act

Letter from Congressman Spencer Bachus (R.-Ala.)

June 22, 2001

Dear Mr. Campbell:

    Thank you for your interest in the Hope for Children Act, a proposal I helped introduce to double the tax credit for couples who adopt a child and to make the credit permanent.  I am very pleased to report that the tax relief plan passed by Congress on May 26 and signed into law by President Bush includes the Hope for Children Act.
    The high cost of adoption is an insurmountable obstacle to many families who want to adopt.  With this needed tax relief, we will help ease this financial burden on families and ensure more children find a permanent, loving home.
    This new law increases the adoption tax credit for families who adopt a special needs child from $6,000 to $10,000.  The credit for families who adopt a non-special needs child is increased from $5,000 to $10,000 and extended permanently.  The legislation increases the income cap at which the credit begins to phase out from $75,000 to $150,000.  Finally, the credit applies against the alternative minimum tax.  The exclusion for employer-provided adoption assistance is increased and extended in a comparable manner.  The provisions that extend the tax credit are effecive for taxable yeas beginning after December 31, 2001.
    This is a tremendous victory for waiting families and waiting children and I am very pleased we were finally able to pass this important tax relief into law.  If I can e of further assistance to you, please let me know."

Sincerely,

Spencer Bachus
Member of Congress

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