New Markets Tax Credit Report Details Major Investment to America’s Struggling Rural and Urban Communities

Data shows the NMTC financed 5,000 projects created over one million jobs all while generating enough revenue to more than pay for its cost to the federal government  Washington, D.C. – Today, the New Markets Tax Credit Coalition published a new report on the economic impact of the New Markets Tax Credit (NMTC) from 2003 […]

Congressman Smucker (R-PA) Circulates NMTC/HTC Support Letter to Speaker Ryan and Chairman Brady

Congressman Smucker (R-PA) Circulates NMTC/HTC Support Letter to Speaker Ryan and Chairman Brady

URGENT: Contact House Republicans and Urge Them to Sign the Smucker Letter Congressman Smucker (R-PA) is requesting signatures for a letter urging Speaker Paul Ryan and Chairman Kevin Brady to preserve the Historic Tax Credit (HTC) and make the New Markets Tax Credit (NMTC) permanent. The letter is open to House Republicans and it closes […]

New Treasury Data Analysis Confirms New Markets Tax Credit Generated Over One Million Jobs in America’s Most Distressed Rural and Urban Communities

Today, the New Markets Tax Credit (NMTC) Coalition provided an updated analysis of U.S. Department of Treasury data on the investment and creation of jobs in low-income communities nationwide. This data indicates that between 2003 and 2015, NMTC financing resulted in over one million jobs in low-income rural towns and urban neighborhoods—areas struggling with lagging […]

House Proposed NMTC Repeal Would Devastate America’s Most Distressed Communities

“The House Ways and Means tax reform proposal released today by the majority demonstrates an appalling disregard for low-income rural and urban communities by repealing the federal New Markets Tax Credit program, a vital piece of America’s tax code that has leveraged over $80 billion in public-private investments and created more than 750,000 jobs in […]

CDFI Fund Releases Updated NMTC Eligibility Data

Today, the CDFI Fund released updated census tract eligibility data for the NMTC program. The eligibility update utilizes data from the 2011-2015 American Community Survey (ACS). Detailed guidance will be posted soon on the CDFI Fund website. CDFI Fund News Release Eligibility Changes: There are about 73,000 census tracts nationwide, of which 31,640 are eligible […]

Thousands of Organizations Urge Congress to Save NMTC in Tax Reform

More than 2,100 Businesses, investors and organizations call on Congress to expand and make the community and economic development tax credit permanent in tax reform (Washington, D.C.) –Today, the New Markets Tax Credit (NMTC) Coalition sent a letter addressed to the House Ways and Means Committee and its Chairman, Kevin Brady (R-TX), as well as […]

Republican Tax Framework Leaves Economic Future of Distressed Communities in Uncertain Situation with Omission of the NMTC

The Republican leadership released its tax reform framework but failed to include the New Markets Tax Credit, a proven tool for community revitalization and job creation in some of the poorest neighborhoods and communities in America Washington, D.C. –The NMTC Coalition was disappointed that the Republican Tax Framework released by Republican leadership left out the […]

Helping Meet Housing Needs After Katrina

Helping Meet Housing Needs After Katrina

After Katrina and Rita, the New Markets Tax Credit (NMTC) served an important role in rebuilding community facilities including hospitals and schools, helping businesses replace damaged furniture and equipment, and bringing life back to devastated areas. Disasters isolate low-income areas that already lag far behind affluent communities in the availability of basic services like healthcare […]