Our new report, The New Markets Tax Credit: At Work in Communities Across America, features ninety-two NMTC success stories from all fifty states plus the District of Columbia.
From the Blog
- Coalition Releases “A Decade of the NMTC” December 10, 2014
- Coburn’s Tax Report Rehashes the Same Incomplete and Inaccurate Picture of the NMTC December 9, 2014
- Recent Article Paints an Inaccurate Picture of the NMTC November 18, 2014
- CRS report on expired economic development tax provisions October 23, 2014
- Broad Tax Extenders Coalition sign-on letter open for signatures October 8, 2014
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.