Tell Congress to preserve the New Markets Tax Credit (NMTC) by signing our letter of support! We are accepting signatures from CDEs, businesses, nonprofits, CDFIs, investors, trade associations, and other organizations that support the NMTC.
The letter closes May 1, 2025!
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Draft Letter
Dear Congress,
We, the undersigned organizations, write to express our strong support for the bipartisan New Markets Tax Credit (NMTC) Extension Act of 2025 (S. 479 / H.R. 1103). This bipartisan legislation seeks to make the NMTC a permanent fixture in the tax code, ensuring continued investment in economically distressed communities across the United States. In addition to the permanent extension, the legislation would provide $5 billion in annual allocation authority, an inflation adjustment in the out-years, and an exception to the Alternative Minimum Tax for NMTC investments.
The NMTC provides taxpayers investing in Community Development Entities (CDEs) with a 39 percent credit against federal income taxes that is taken over seven years. A CDE is a community development organization, such as a loan fund or private financial institution, with a track record of lending and investing in economically distressed rural and urban communities.
The NMTC has a twenty-five-year track record of delivering financing to small businesses, daycare centers, health clinics, manufacturing expansions, workforce training programs, broadband expansions, schools, business incubators, disaster relief efforts, and other revitalization projects that strengthen communities and generate long-term economic growth. Instead of Washington picking winners and losers, the NMTC empowers local decision-making on important economic development projects.
Across the country, more than $135 billion in private capital has been invested in businesses with the help of the NMTC, creating over 1.2 million jobs. Over twenty percent of NMTC projects are in rural areas, and most investments are in severely distressed areas that far exceed the statutory requirements for economic distress.
The NMTC is set to expire at the end of 2025. Please support America’s low income rural communities and urban neighborhoods by cosponsoring the NMTC Extension Act of 2025.
Additional information can be found on the NMTC Coalition’s website at nmtccoalition.org.
Sincerely,