“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 […]
Report highlights NMTC project data from 2016, including 28 healthcare facilities, 26 manufacturers, 15 schools, 14 facilities for youth and families, and 11 incubators
FOR IMMEDIATE RELEASE NMTC Leaders Applaud 5-Year Extension of Community Development Tax Credit WASHINGTON, D.C.—Late last night, Congressional leaders and the White House came to an agreement on a tax extender deal, which includes permanency for a few provisions and two- to five-year extension for other expired or expiring tax credits. The New Markets Tax […]
Senator Baucus and Representative Camp have announced their tax reform “road show” is rolling on to Philadelphia. During their last stop, the two Members of Congress who chair the committees tasked with writing tax reform legislation visited a 125-year-old family business that had received New Markets Tax Credit (NMTC) financing. While the businesses they plan […]
In November of 2012, Cincinnati leaders gathered for the grand opening of the CityLink Center, a comprehensive social services mall which was built with the help of New Markets Tax Credits.
Reps. Tiberi (R-OH) and Camp (R-MI) plan to hold a hearing to review individual tax extenders (including the New Markets Tax Credit) in April. The Hill has a story, and you can read their release below: Camp, Tiberi: Review of “Extenders” to Start in April Washington, DC – Today, Ways and Means Committee Chairman Dave […]
Yesterday, Senators Reid (D-NV), McConnell (R-KY), and Baucus (D-MT) engaged in a colloquy on the Senate floor where they expressed their support for action on the tax extenders. Senator Hatch (R-UT) also asked for written comments to be appended to the record. The friendly exchange followed a rare moment of bipartisan comity with the passage […]
Today, the Senate will vote on an amendment to the surface transportation bill (S. 1813) that includes an extension of the NMTC. Senator Pat Roberts (R-KS) is offering the amendment, which renews many of the tax provisions that expired in 2011 including the NMTC, the R&D credit, and state and local sales tax deductions. It […]