Senate Committee Highlights Impact of New Markets Tax Credit Program
Senate Committee Highlights Impact of New Markets Tax Credit Program on Local Economic Development
The New Markets Tax Credit program has been highlighted during a Senate Committee hearing, emphasizing its significant impact on local economic development. This news matters because the program spurs private investment in low-income communities and has bipartisan support, but it faces uncertainty due to its temporary nature. The push for permanency would reduce costs for Community Development Entities and investors, ultimately bringing more dollars directly to communities in need.
