The Case for NMTC Permanence

The New Markets Tax Credit expires in 2025. Congress has an opportunity to make one of the federal government’s most successful community development programs permanent at the low, ten-year cost of $1.38 billion, according to the Joint Committee on Taxation.¹

Ten-year score of the NMTC Extension Act of 2021, by JCT

Here’s what a permanent NMTC extension (along the lines of the NMTC Extension Act,  gets you through 2031:

Flexible Capital to Meet Community Needs

$ 0 B
in newly authorized NMTC allocation to 4,300 projects in low-income communities
$ 0 B
in total project financing, uncluding $16.8 billion in rural America.

Community Facilities & Social Infrastructure

Financing for over 2,043 nonprofits, community centers, YMCAs, health clinics, youth programs, vocational training centers, and other community facilities. This activity includes:


projects expanding access to healthcare for 16.7 million patients, including 503 new or renovated federally qualified health centers, free clinics, and VA facilities



childcare centers, early childhood education facilities, after school programs, and youth social service providers



vocational training programs, community colleges, workforce development initiatives, and higher education expansions


Jobs & Opportunity

0 K

jobs, including 366k permanent, full-time jobs, and 217k construction jobs

0 K

manufacturing jobs at nearly 1,700 manufacturing businesses supported through direct loans, technical assistance, or new industrial space.


smaller loans of under $2 million to small businesses through loan pools

Other Physical Infrastructure

0 M

sq. ft. of new or improved real estate for businesses and social infrastructure


affordable housing units, most of which are affordable, single-family homes.

Other Benefits of NMTC Permanence

Increases certainty for communities and investors

Allows credit to keep pace with inflation

Diversifies investor market, helping the maintain efficiency during recessions when the NMTC is needed most.

All at a ten-year cost of $1.38 billion

A cost per job of under $3,000!