Popular Federal Tool for Investing in Distressed Areas Again Under Threat

A year after it was rescued from elimination, the federal New Market Tax Credit program is again facing extinction. Congress must act before the end of the year to save the popular tool for subsidizing investment in underserved communities.

"The premise behind New Market Tax Credits, or NMTCs, is simple: While there is certainly both need and opportunity in underserved communities, there isn’t much capital or private sector money," explains Bill Bradley. "So developers, business leaders and entrepreneurs in these areas — dubbed 'New Markets' — received federal subsidies to encourage more investment."

"In June, senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced legislation to have the program extended permanently. At the moment, however, there’s no sign that it will continue come the new year. Which seems crazy, given both the demand and the program’s success."

Full Story: New Market Tax Credits Set to Expire


Brand new! Urban Grid City Collection

Each city has its own unique story. Commemorate where you came from or where you want to go.
Grids and Guide Red book cover

Grids & Guides

A notebook for visual thinkers. Available in red and black.
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.