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ONE-YEAR NMTC PROGRAM EXTENSION INTRODUCED

Tuesday, February 7, 2012 - 8:00AM

Sens. John D. Rockefeller, D-W.Va., Olympia Snowe, R-Maine, and Robert Menendez, D-N.J., offered an amendment to the chairman’s mark of the Highway Investment, Job Creation and Economic Growth Act of 2012 to extend the New Markets Tax Credit (NMTC) program for one year through 2012. The amendment would provide $3.5 billion of NMTC volume for 2012 by lowering the threshold, from $50,000 to $25,000, at which the federal government can deny the application for a new passport or renewal of an existing passport. The Senate Committee on Finance will hold a hearing today on the Highway Investment, Job Creation and Economic Growth Act.

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