"As members of Congress from two different sides of the aisle and two different states, we are both well aware of the positive impact this NMTC has on our districts and those all across the country."
The NMTC is a Proven Program, It's Time to Make it Permanent
Reps. Pat Tiberi (R-Ohio) and Richard E. Neal (D-Mass.)
June 12, 2017
"This session of Congress is almost certain to consider major tax legislation. There is support on both sides of the aisle for revamping our tax code to make it pro-growth, to improve the economy and give the American people better economic opportunity. While our two parties differ on many details, there are some areas in which there is substantial bipartisan agreement. One is the need to continue to revitalize our urban neighborhood and rural communities.
"Over the years, we have worked to together to support a program that is particularly successful: the New Markets Tax Credit (NMTC). NMTC provides a modest incentive for private sector investment in economically distressed urban and rural communities. That investment has created jobs and business opportunities across America and that’s why we’ve introduced, along with our House colleague Rep. Tom Reed (R-N.Y.) and Senate colleagues Sens. Roy Blunt (R-Mo.) and Ben Cardin (D-Md.), the New Markets Tax Credit Extension Act of 2017. Our bill makes the NMTC a permanent part of the tax code.
"We speak as members of the Ways and Means Committee, but support for the New Markets Tax Credit extends far beyond the tax-writing committee. Over 50 Members of the House have cosponsored our bill. It is clear NMTC is something that Washington can and should agree on."
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