Over 1,600 Call on Congress to Make New Markets Permanent as Tax Reform Heats UpBusinesses, investors and organizations sign letter urging Congress to extend the expired community and economic development tax credit before they leave Washington
House Bill Would Make New Markets Tax Credit PermanentReps. Tiberi (R-OH), Neal (D-MA), and Reed (R-NY) Lead Bipartisan Call to Make Federal Tax Credit Permanent
State Fact Sheets and Economic Impact ReportsLearn more about the NMTC's impact in all 50 states and the District of Columbia.
Bipartisan Senate Extension Legislation IntroducedSenators Blunt (R-MO) and Schumer introduce legislation to preserve and expand the New Markets Tax Credit.
Browse our NMTC Project Map, which includes stories and jobs data for NMTC projects in all fifty states and the District of Columbia.
About the NMTC
The New Markets Tax Credit (NMTC) was originally authorized in 2000 as part of a bipartisan collaboration between President Clinton and Speaker Hastert (R-IL). The idea behind the NMTC is that there are good business opportunities in urban and rural low-income communities, but the cost and availability of capital in these "New Markets" is an impediment to economic growth. NMTC employs a modest federal subsidy to stimulate private sector investment in these communities through a delivery system of private for-profit and nonprofit entities that provides patient, flexible capital to businesses and projects.
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Browse our video vault, featuring case studies, Congressional testimony, hearings, and events.