Members of Congress are mobilizing to protect the popular New Market Tax Credit program, which has offered benefits in rural and urban environments.
"Facing an impending tax overhaul from the Trump administration, members of the House and Senate have moved to protect a program that gives tax credits to businesses that create jobs and other economy boosters in low-income communities," reports Kelsey E. Thomas.
Thomas is referring to the U.S. Treasury’s New Markets Tax Credit (NMTC) program, "which targets poor zip codes both urban and rural, has gained bipartisan support and many friends in both the urban development and business worlds since its implementation in 2000." Senator Roy Blunt (R-MO) introduced the two bills, called the "New Markets Tax Credit Extension Act of 2017" [pdf]. The bills would make the program permanent.
Thomas provides additional insight onto the prevailing political winds facing the New Market Tax Credits, with evidence provided by statements from Treasury Secretary Steven Mnuchin during his confirmation hearing.
FULL STORY: Congress Is Making a Bipartisan Push for an Urban Development Tax Credit
The Surprising Oil Tax in the Inflation Reduction Act
President Biden has made reducing gas prices paramount in his administration, so it was likely a surprise to hear a Republican senator last Sunday warn TV viewers that a revived and increased oil fee in the climate bill will increase their gas costs.
Missing From the Climate-Energy Legislation: Bikes!
Missing from the Democrats' Inflation Reduction Act, the significant climate legislation which passed the Senate on a 51-50 party-line vote on Sunday with Vice President Harris casting the tie-breaking vote, is any mention of bikes.
What the Final Tax Reform Bill Has in Store for Housing and Development
The final version of the tax reform bill included some surprises with regard to housing and infrastructure funding mechanisms threatened in previous version of the bill.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service