Sen. Wyden’s Finance Committee Leadership Offers Opportunity
On February 13, 2014, Senator Ron Wyden (D-OR) succeeded Chairman Max Baucus (D-MT), who was confirmed last week as U.S. ambassador to China, as Chairman of the Senate Finance Committee. Wyden is a longtime supporter of New Markets Tax Credit (NMTC). He has promised to focus like a laser on tax extenders.
In the coming months, Congress is expected to consider expired tax credits and preferences including New Markets Tax Credit. We expect both Houses to turn their attention from tax reform and on to a process to consider the 50 or so tax provisions that need attention. Among them is NMTC, which expired at the end of 2013.
Once again, it is critical to express to Congress the importance of the NMTC to thousands of businesses, state and local government officials, and investors.
Monarch Housing is proud to once again sign on to the New Markets Tax Credit Coalition’s support letter and we encourage your organization to join us! In 2013, more than 1,200 organizations signed the NMTC letter (and unless an organization objects, the Coalition plans to keep them on the updated letter.)
If you did not sign last year, please join in the effort to extend NMTC by signing on this year and encourage other NMTC supporters in your community to sign on as well.
The letter closes on February 28th, 2014.
The letter urges Sen. Wyden and his committee to extend the NMTC.