American Samoa

I am writing to strongly advocate for the permanence of the New Markets Tax Credit (NMTC) program, a crucial initiative that has consistently shown its power to uplift our nation’s most economically challenged communities. As someone who has been deeply involved in the finance and community development sectors for over a decade, I’ve seen firsthand the transformative effects of NMTC on low-income areas. This program is not just a subsidy; it’s a financial catalyst. It attracts vital private capital to neighborhoods that would otherwise remain overlooked and underfunded. By focusing on low-income census tracts, NMTC aligns perfectly with our collective goal to foster equitable outcomes in community development. Through leveraging private investment, NMTC helps finance essential social services such as health centers, schools, and community centers. These facilities serve as the backbone of any prosperous society, and their absence is sorely felt in disadvantaged areas. By endorsing the permanence of NMTC, we aren’t merely providing a financial boost; we are laying the groundwork for holistic community revitalization.