Republican Tax Plan to Eliminate New Market Tax Credit

One of the most sinister aspects of the Republican effort to “reform” the tax code is that the effort is moving so swiftly, we don’t even know all the changes being proposed that affect us. One big problem for affordable housing and community development groups in the Republican tax bill is the elimination of the New Markets Tax Credit. Here is an article that discusses the elimination of the credit under the proposed tax bill:

House Proposed NMTC Repeal Would Devastate America’s Most Distressed Communities