Ways and Means Committee Announces Formation of Tax Reform Working Groups

Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sandy Levin (D-MI) announced the formation of 11 separate Ways and Means Committee Tax Reform Working Groups. The groups will be led by one Republican Member serving as Chair and one Democratic Member serving as Vice Chair.  Each of the […]

Novogradac Journal of Tax Credits: NMTC Economic Impact Report Confirms Significant Return on Investment

By Teresa Garcia, Editorial Assistant, Novogradac & Company LLP Published in the Novogradac Journal of Tax Credits – February 2013, Volume IV, Issue II The New Markets Tax Credit (NMTC) program was revived with Congress’ Jan. 2 passage of the American Taxpayer Relief Act of 2012 (H.R. 8). The eleventh hour decision extends the NMTC […]

New Markets Tax Credit Coalition Commends Extension of New Markets Tax Credit in American Taxpayer Relief Act

“Fiscal Cliff” Legislation Provides Two-Year Extension to Federal Tax Credit Program Proven to Fuel Private Investment in Economically Distressed Communities WASHINGTON, D.C. – The New Markets Tax Credit Coalition (NMTCC) applauds the passage of legislation extending the New Markets Tax Credit (NMTC) for two years. By extending the NMTC, Congress ensures the continued delivery of […]

Aid for those with damage

On Tuesday, Newsday published a letter to the editor from New Markets Tax Credit Coalition Board Member Bob Davenport, President of the National Development Council. The letter urges inclusion of incentives like the New Markets Tax Credit and Low Income Housing Tax Credit in a Hurricane Sandy relief package. Below is an excerpt: We should not […]

Coalition makes case for continuing New Markets Tax Credit program

Write-up in the Des Moines Business Record: A national coalition of community development organizations and financial institutions is hopeful that new figures released today will help persuade Congress to renew the New Markets Tax Credit (NMTC) program. According to the coalition, the federal program has spurred redevelopment in low-income neighborhoods that has helped to create […]

Twelve House GOP Freshmen Urge Leadership to Extend the New Markets Tax Credit

Momentum continues to build for movement of the tax extenders including the New Markets Tax Credit. Yesterday, twelve Freshmen House Republicans sent a joint letter to their leadership urging extension of the New Markets Tax Credit.  The letter was circulated by Freshmen Republican Representatives Steve Stivers (R-OH) and Steve Chabot (R-OH). Download the letter List […]