On April 26, 2012, the House Select Revenue Subcommittee held a members hearing on the tax extenders. As we reported earlier, several members of Congress expressed their support for the New Markets Tax Credit. [Video] The New Markets Tax Credit Coalition, along with several members of the Coalition, submitted written testimony to the committee. Below, […]
Reps. Pat Tiberi (R-OH), Jim Gerlach (R-PA), Erik Paulsen (R-MN), Richard Neal (D-MA), Jim Costa (D-CA), and John Larson (D-CT) urged extension of the New Markets Tax Credit At the behest of Reps. Pat Tiberi (R-OH) and Richard Neal (D-MA), the House Select Revenue Subcommittee of Ways and Means held a Members hearing on Thursday, […]
In Cedar Rapids, Iowa, the New Markets Tax Credit helped finance a new dental clinic at His Hands Free Medical Clinic.
The New Markets Tax Credit continues to serve as an effective tool to create manufacturing jobs. Last year, thanks to $12.5 million in New Markets Tax Credit financing from the Florida Community Loan Fund, construction began on SolarSink, LLC’s innovative new manufacturing facility: SolarSink, LLC will produce heatsink technology and create a solar array on a […]
Reps. Tiberi (R-OH) and Camp (R-MI) plan to hold a hearing to review individual tax extenders (including the New Markets Tax Credit) in April. The Hill has a story, and you can read their release below: Camp, Tiberi: Review of “Extenders” to Start in April Washington, DC – Today, Ways and Means Committee Chairman Dave […]
Yesterday, Senators Reid (D-NV), McConnell (R-KY), and Baucus (D-MT) engaged in a colloquy on the Senate floor where they expressed their support for action on the tax extenders. Senator Hatch (R-UT) also asked for written comments to be appended to the record. The friendly exchange followed a rare moment of bipartisan comity with the passage […]
Today, the Senate will vote on an amendment to the surface transportation bill (S. 1813) that includes an extension of the NMTC. Senator Pat Roberts (R-KS) is offering the amendment, which renews many of the tax provisions that expired in 2011 including the NMTC, the R&D credit, and state and local sales tax deductions. It […]
Use this form to submit a NMTC case study from the 2011 calendar year. Your submission could appear in the 2012 NMTC Progress Report. If you have any problems submitting the form, contact Paul Anderson directly. To see some examples of past case studies, see pages 19-22 of last year’s Progress Report.
By Bob Rapoza In Doug Guthrie’s recent Forbes column on the LITHTC, For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship he mentions in passing that the New Markets Tax Credit (NMTC) has “failed to stimulate growth in the areas [it] have targeted.” Those conclusions are at odds with the facts. Since […]