Ways and Means Roundtable on NMTC and LIHTC
On Thursday, July 18th, the Bob Rapoza (representing the NMTC Coalition) and Michael Novogradac (representing Novogradac & Company LLP) participated in an informal round table briefing on Low-Income Housing Tax Credits (LIHTC) and New Markets Tax Credits (NMTC) for Members of the House Ways and Means Select Revenue Subcommittee on Thursday, July 18th. Members in attendance included: Tiberi (R-OH), Chairman; Neal ( D-MA) Ranking Member; and Reps. Reed (R-NY), Young (R-IN), Linda Sanchez (D-CA), Marchant (R-TX), Renacci (R-OH), Paulsen (R-MN), and Gerlach (R-PA).
At the end of the briefing, Rep. Tiberi posed a series of questions on the following topics: (1) waste, fraud, and abuse; (2) whether the credit is too generous; (3) the credit’s efficiency and whether it can be improved. Below, find the response to Rep. Tiberi’s questions.