Business Coalition Demands New Markets Tax Credit Renewal

Law360, New York (March 6, 2014, 1:30 PM EST) -- A coalition of more than 1,400 businesses and organizations, including Wells Fargo Bank, the American Bankers Association, the YMCA and Arnold & Porter LLP, urged the House Ways and Means Committee on Thursday to pass legislation extending the New Markets Tax Credit.

House Ways and Means Chairman Dave Camp’s recently released tax reform discussion draft did not include a renewal of the NMTC — a tax program used to stimulate private investment in low income neighborhoods — and the New Markets Tax Credit Coalition stepped in,...
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