Senate Finance Committee Temporary Tax Policy Task Force Releases Report including NMTC
The Senate Finance Committee Employment and Community Development Task Force on Temporary Tax Policy today released its report, which included the new markets tax credit (NMTC). While the task force didn’t make a recommendation on extending or making permanent the NMTC, it did make a consensus recommendation to encourage permanent or long-term tax policy. The task force received 16 comments on the NMTC, with only one recommending a repeal. The committee acknowledged that Sen. Roy Blunt, R-Mo., co-sponsor of the New Markets Tax Credit Extension Act of 2019, advocated for consideration of that bill.