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Thursday, September 19, 2024

Congresswoman introduces tax credit bill for in vitro fertilization

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Rep. Mariannette Miller-Meeks, U.S. Representative for Iowa's 1st District | Official U.S. House headshot

Rep. Mariannette Miller-Meeks, U.S. Representative for Iowa's 1st District | Official U.S. House headshot

Washington, D.C. — Congresswoman Mariannette Miller-Meeks (IA-01) has introduced legislation aimed at promoting access to in vitro fertilization (IVF) through a fully refundable tax credit of up to $30,000. The bill seeks to provide financial relief for individuals and couples pursuing IVF expenses. Reps. Mike Lawler (NY-17) and Lori Chavez-DeRemer (OR-5) are cosponsoring the legislation.

“Every life is precious, and we have a moral imperative to support those who wish to become parents,” said Rep. Miller-Meeks. “By providing financial assistance through this refundable tax credit, we are not only making IVF more accessible but also empowering individuals and families to realize their dreams of parenthood. This bill is a commitment to supporting life and the choices of families across our nation.”

Rep. Chavez-DeRemer stated, “Thousands of babies are born every year in the United States thanks to IVF. Unfortunately, it’s a very expensive procedure that often isn’t covered by insurance, which leaves it out of reach for many couples who want to have children. I’m proud to be an original cosponsor of this commonsense legislation, which would make IVF medical expenses more affordable – helping more Americans experience one of the greatest gifts and joys in life.”

“IVF has enabled millions to experience the joys of parenthood who would not otherwise be able,” said Rep. Lawler. “I’m proud to sign onto Congresswoman Miller-Meeks’ new bill which will ensure this life-giving procedure is accessible and affordable for families across our country.”

Currently, the IRS permits a limited medical expense deduction for expenses related to IVF treatments; however, the average IVF treatment cycle ranges from $15,000 to $30,000—a significant financial burden for many Americans.

Miller-Meeks’ bill comes as recent data shows a notable rise in IVF coverage among large companies while a significant portion of the workforce employed by small businesses remains without this benefit. With U.S. birth rates on the decline, the proposed legislation represents a proactive step toward encouraging family growth and supporting those wishing to bring children into the world.

Key Provisions of the Bill:

1. Refundable Tax Credit: Establishes a fully refundable tax credit for IVF-related medical expenses up to a lifetime benefit of $30,000.

2. Deductibility: Allows taxpayers to deduct IVF-related expenses beyond what is covered by the credit.

3. Eligible Expenses: Covers various costs including transportation services, egg retrievals and transfers, counseling fees, lab fees, medications, and ultrasounds.

To read the full bill text [click here].

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