Trifecta Bill Dies in Senate
The Senate last week failed to pass legislation that would have extended the new markets tax credit beyond its 2007 sunset. The bill (H.R. 5970), referred to as the 'Trifecta' bill because it included permanent estate tax relief, tax extenders and increasing the minimum wage, failed on a 56-42 vote. Supporters of the provisions included in the measure have expressed hope that they could be passed yet this year after Congress returns from recess.
The extension of the new markets tax credit will be discussed by industry experts at Novogradac & Company LLP's New Markets Tax Credit Investors Conference October 24-26, 2006 in Boston, Mass.