Today and tomorrow, the House Ways and Means Committee is marking up the Community Development and Infrastructure portion of its reconciliation package.
$5 billion investment in economically distressed rural, urban, and minority communities
NMTC projects often serve an entire region. For example, a hospital provides services to people throughout a city. The hospital hires workers from the surrounding community, which can include multiple Congressional districts. With this in mind, it made sense to expand the list of projects on our Congressional District pages to also include projects nearby […]
Yesterday, Reps. Karen Bass (D-CA), Tony Cardenas (D-CA), Sanford Bishop (D-GA), Mike Simpson (R-ID), Fred Upton (R-MI), Anthony Gonzalez (R-OH), Ann Kuster (D-NH), and Peter Welch (D-VT) all agreed to cosponsor the NMTC Extension Act of 2021. This brings the cosponsor list to 79 members of the House (plus Rep. Terri Sewell, the lead sponsor). […]
Members of Congress from both parties continue to sign-on to the NMTC Extension Act of 2021, which would make the NMTC permanent.
With the 2021 NMTC Coalition Policy Conference now in the rear mirror, please head to our events page for a full wrap-up of the conference including videos from presentations, PPTs, and social media highlights. You can also download the NMTC Coalition’s 2021 Progress Report below: Conference Wrap-up Progress Report You can also find the conference […]
The NMTC Funded 272 Projects and more than 45,000 Jobs Across the U.S. in 2020
Over the past week, SIX(!) Florida Representatives have signed on to the NMTC Extension Act of 2021. They include Representatives Kathy Castor (D-FL), Charlie Crist (D-FL), Mario Diaz-Balart (R-FL), Stephanie Murphy (D-FL), Frederica Wilson (D-FL), and Gus Bilirakis (R-FL) all cosponsored. Success Stories from their Districts Rep. Castor Rep. Crist Rep. Diaz-Balart Rep. Murphy Rep. […]
Today, the Rural Jobs Act was reintroduced in the House and Senate by Senators Roger Wicker, R-Miss., Mark Warner, D-Va., John Boozman, R-Ark., Ben Cardin, D-Md., Kyrsten Sinema, D-Ariz., John Hoeven, R-N.D., Shelley Moore Capito, R-W.Va., and Cindy Hyde-Smith, R-Miss., along with Representatives Terri Sewell, D-Ala. and Jason Smith, R-Mo. The legislation would increase NMTC […]
Thanks to everyone who participated in NMTC Advocacy Week on social media. Here’s a roundup of a few of the posts:
We urge all supporters of the NMTC to jump on social media and promote NMTC projects large and small. Here are a few highlights from yesterday:
Learn more about how you can help #MakeTheNMTCPermanent: Want to participate in #NMTC Advocacy Week? Reach out to your members of Congress and urge them to #MakeTheNMTCPermanent and to expand the #NMTC to help underserved communities. We have contact information, stories, and more by Congressional District here:
NMTC Coalition members advocate for the NMTC Extension Act of 2021, additional investment in BIPOC-owned CDEs, childcare, business incubators, clean-tech industries and investor liquidityThe w
The NMTC supports quite a few small businesses and entrepreneurs, both directly (through direct financing) and indirectly (through real estate financing of incubators and creative shared space).
Today, the Urban Institute is out with new issue briefs on the New Markets Tax Credit. The Urban Institute found that communities with NMTC investments saw reductions in poverty and increases in median incomes. We investigated more than 5,700 NMTC projects that were facilitated by $55 billion in qualified investments into nonprofits and businesses. We found that […]
Earlier this year, Midwest Minnesota Community Development Corporation provided $3.4 million in NMTC financing to Vortex Cold Storage to develop a state-of-the-art temperature-controlled warehousing to support Agribusiness and Food Distribution business supply chains in the Southern Minnesota and Northern Iowa regions. The project held a groundbreaking ceremony last week in Albert Lea, MN.
The AJP envisions several promising new programs and initiatives for financing housing, invigorating our clean energy economy, and replacing our electric grid, among other ideas. Many of the goals and priorities in the plan align well existing federal initiatives – in particular the NMTC
Great news: Twenty-six members of the House joined as cosponsors of H.R. 1321. You can browse stories from all their districts below: [pt_view id=”e93a0b4pk6″]
Underserved communities that confront difficult situations, including natural disasters, economic distress, and economic dislocation, rely on the New Markets Tax Credit (NMTC). It helps them restore economic stability and improve integral health and social services. During present times in particular, as we face the global COVID-19 pandemic, numerous communities across the county have been hit […]