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Senate Finance Committee Chairman William Roth Cancelled Mark-up of Bill

Saturday, September 30, 2000 - 12:15PM

Senate Finance Committee Chairman William Roth (R-Del.) cancelled his own committee’s mark up of a bill that includes a increase to both the low-income housing tax credit and private activity bond caps, and sent it directly to the full Senate on Sept. 28. The Community Renewal and New Markets Act of 2000 includes a full and immediate increase to the tax credit cap, from $1.25 per capita from $1.75 per capita, with an index to inflation thereafter. The bill also includes an immediate increase to the private activity bond cap, from $50 per capita to $75 per capita, with an index to inflation thereafter. "I regret that I have to cancel Committee action on this legislation. I am very concerned that going forward would have opened the bill up to become a grab-bag of special interest provisions," Roth told the Senate Finance Committee. "Instead, I intend to introduce my modified chairman's mark as stand-alone legislation. I hope that members of the committee will all consider joining me as cosponsors of this legislation. I believe that this will strengthen our hand in negotiations with the House and the White House in the coming days."

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