The recently released tax bill has some positive developments for the pro-life movement, as well as some setbacks. In a win for pro-lifers, the child tax credit is being increased. Additionally, the preborn will now be recognized under the tax law for college savings plans (529 plans). Under the legislation, parents can begin saving for their children before they are born, which would recognize that life begins at conception.
Students for Life of America Kristan Hawkins called this “an exciting development. Pro-life policies must include helping parents prepare for their children’s future, which makes the announced changes in tax policy an important sign that the Trump Administration is working to protect and support mothers, fathers and children, born and preborn.”
Still, it wasn’t all good news in the bill.
The GOP proposal did not continue a deduction of up to $13,460 to offset adoption costs for families making under $242,000.
“It’s disappointing that the adoption tax credit isn’t in the current proposal, given the high cost of adoption and the needs of children for a family,” Hawkins said. “We urge lawmakers to do everything they can to support parents who are doing the heroic and costly work of raising the next generation.”
Students for Life of America will continue to monitor the tax legislation to ensure it promotes life at all stage, including promotion of adoption.