[Congressional Record Volume 151, Number 8 (Tuesday, February 1, 2005)]
[Senate]
[Page S752]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. BUNNING (for himself, Mr. Nelson of Nebraska, Mr. DeMint, 
        Mr. Craig, Mr. Inhofe, Mr. Brownback, Mr. Lugar, Mr. Santorum, 
        Mr. Coleman, and Mr. Domenici):
  S. 246. A bill to repeal the sunset of the Economic Growth and Tax 
Relief Reconciliation Act of 2001 with respect to the expansion of the 
adoption credit and adoption assistance programs; to the Committee on 
Finance.
  Mr. BUNNING. Mr. President, I rise today to introduce the Adoption 
Tax Relief Guarantee Act of 2005. This legislation will help American 
families break the financial barriers to successfully adopting a child, 
especially those children with special needs who cannot take care of 
themselves. By helping to ease this financial burden, we can encourage 
the development of more stable families and provide a brighter future 
for thousands of children.
  These important goals prompted us to act 4 years ago, when we passed 
adoption tax incentives in the 2001 tax bill. However, they are set to 
sunset and will expire on December 31, 2010. I believe it is essential 
that we support the American family and extend these provisions.
  This bill repeals the sunset for adoption tax credits. Specifically, 
this will allow those Americans who adopt a child to continue to 
receive a credit in the amount of their qualified expenses and 
guarantees the maximum $10,000 credit for those who adopt children with 
special needs. If we fail to act, these credits would revert to $5,000. 
This legislation also continues the expanded eligibility for adoption 
assistance programs for those earning up to $150,000, rather than 
allowing it to fall back to $75,000.
  I am pleased that a bipartisan group of Senators has cosponsored this 
legislation, and that it has been endorsed by the National Council for 
Adoption. Those children without parents and those parents without 
children need our help to bring them together. We owe it to them to act 
now.
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