WICHITA, Kan. (KWCH) On Thursday, the U.S. House of Representatives passed a tax reform bill that would cut taxes by $1.4 trillion over the next ten years. It would also slash the corporate tax rate from 35-percent to 20-percent and reduce the number of brackets.
But deductions from that bill could affect some Kansas families if lawmakers do away with the Adoption Tax Credit.
“Families want to adopt and it’s expensive, and some families are precluded from adopting because of the expense,” said Kansas Rep. Susan Humphries from the 99th district.
It can cost a family $15,000 to $50,000 to adopt one child.
Attorney Julian Thomas of St. Nick Adoptions says eliminating the adoption tax credit would hurt those looking to adopt.
“I’ve had so many families since the tax credit has become an issue who have called me and said ‘what are we going to do, we can’t adopt,” said Thomas.
Financial planner Marti Johnson says it’s still too soon to know what kind of effects will be had.
“You know, you don’t necessarily want to know how sausage gets made, and you don’t necessarily want to know about the back door politics that are going to happen over the next weeks or months even,” she said.
However, the tax reform bill ends up, Kansas families want the adoption credit left alone.
“The tax credit is a way, that we, for a very small price, can stabilize children,” said Thomas.