Sign-On to Support the NMTC

Stivers-Serrano-Turner NMTC Sign-On Letter

The Coalition worked with Congressmen Steve Stivers (R-OH), Jose Serrano (D-NY), and Mike Turner (R-OH) on a sign-on letter to Chairman Brady concerning the NMTC and the House plans for tax reform. Earlier this year, Speaker of the House Paul Ryan (R-WI) created of six committee-led task forces charged with “developing a bold, pro-growth agenda that will be presented to the country in the months ahead.” House Ways and Means Chairman Kevin Brady leads the Tax Reform Task Force, which has been directed to craft a tax reform proposal to “create jobs, grow the economy, and raise wages by reducing rates, removing special interest carve-outs, and making our broken tax code simpler and fairer.” The task force’s report is likely to be released in June, and this letter further strengthens our request that New Markets Tax Credit is included as part of any tax reform proposal that emerges from the task force.

Turner (R-OH) and Fattah (D-PA) Circulate Sign-on Letter

Congressmen Mike Turner (R-OH) and Chaka Fattah (D-PA) are circulating a sign-on letter urging timely Congressional action on the New Markets Tax Credit. Last year, they also led a letter to Ways and Means urging an extension of the NMTC, and followed up on that letter with an Op-Ed in Roll Call urging their colleagues to take the time during the August recess to visit a NMTC-financed project. Below is a link to the current letter and Dear Colleague.

The deadline for signatures on the letter is close of business on Tuesday, June 16th. Please take a moment to contact your member of Congress and ask them to sign-on to this letter and voice their support for a NMTC extension. In particular, you may want to focus your advocacy efforts on the Members of Congress who signed last year’s NMTC support letter. You can find that list in the link below:

OVER 1,600 CALL ON CONGRESS TO MAKE NEW MARKETS PERMANENT AS TAX REFORM HEATS UP

Businesses, investors and organizations sign letter urging Congress to extend the expired community and economic development tax credit before they leave Washington

 Building on two solidly bipartisan bills in the House and Senate, a letter signed by over 1,600 businesses, investors, and nonprofit and for-profit organizations calls on the Congress to take immediate action to extend the currently expired New Markets Tax Credit (NMTC). Senators Roy Blunt (R-MO) and Chuck Schumer (D-NY), and Congressmen Pat Tiberi (R-OH), Richard Neal (D-MA) and Tom Reed (R-NY) have introduced the New Markets Tax Credit Extension Act of 2015, S. 591 and H.R. 855, respectively, which make the NMTC permanent law. The Obama Administration also called for permanency in the President’s 2016 Budget. The pending legislation as well as the 2016 budget all propose a substantial increase in NMTC.

Past Sign-on Letters:

November 2014 sign-on letter in support of a NMTC extension
On November 18, 2014, over 1,500 organizations wrote to Congress urging extension of the NMTC.

July 2014 Sign-on Letter in support of a NMTC extension
In a letter sent earlier this week to House Ways and Means Committee Chairman Dave Camp and Ranking Member Sander Levin, a bipartisan cohort of fifty members of the House urged the Committee to take up a New Markets Tax Credit extension.

March 2014 Sign-on Letter in support of a NMTC extension
On March 6, 2014, over 1,400 businesses, investors, nonprofit organizations and community leaders sent a letter to Capitol Hill urging leaders of the House and Senate tax-writing committees to extend the New Markets Tax Credit.

2013 House sign-on letter: Representatives Steve Stivers (R-OH) and Mike Michaud (D-OH) circulated a bipartisan sign-on letter in support of a NMTC extension.

This past September, over 1,200 businesses, local elected officials, nonprofits, and other organizations called for an extension of the NMTC. Read that letter:

Download Past Letters:

 

 

 

 

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