Senate Finance Committee Includes Two-Year Extension of NMTC in Tax Extenders Markup

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On Thursday, August 2, 2012, the Senate Finance Committee marked up a tax extenders bill. The bill is the product of a compromise between Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT), and it includes a two-year extension of the New Markets Tax Credit at a level of $3.5 billion per year. Senator Coburn submitted an amendment that would have prevented the use of the New Markets Tax Credit in combination with other grant programs and/or tax incentives like federal and state historic tax credits. The amendment failed 14-10. The Committee ultimately approved the tax extenders bill by a vote of 19-5. The House is not expected to take action on tax extenders until after the election. JCT Score of Extenders Bill  
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Representatives Chabot (R-OH) and Stivers (R-OH) Collecting Signatures on NMTC Extension Letter

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House Freshmen Republicans Reps. Stivers (R-OH) and Chabot (R-OH) are inviting other House Republican Freshmen to sign on to a letter addressed to the House leadership that calls for extension of New Markets Tax Credit. The letter does not specify a dollar amount for credit authority but does request an extension at least through 2012. Download the letter If you are in touch with House Republican Freshman, please ask them to sign on to this letter (whether or not they are co-sponsors). Refer them to Jesse Walls with Rep. Stivers (jesse.walls@mail.house.gov), who is the contact person. List of House Republican Freshmen
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