“There is more we ought to be doing. One thing we could have that a lot of small businesses could really benefit from is the New Markets Tax Credit Program. This is a program that was first authorized in 2000. It encourages investment in high-poverty areas or in low-income areas. Again, in Missouri, 42,000 new jobs have been created as a result of the New Markets Tax Credit Program. The other day, I went to the first new supermarket since 1968 in North St. Louis. This new supermarket opened because it was able to use the New Markets Tax Credit Program. It is a program we clearly need to extend. Once again, I and Senator Cardin, from Maryland, introduced that legislation, and we hope that can happen.”
Senator Roy Blunt, May 8, 2019, on the Senate Floor
TAX POLICY LEADERS PUSH FOR NEW MARKETS TAX CREDIT PERMANENCE
December 14, 2023
