Click Here to Support Tax Credits

Published by Michael Novogradac on Thursday, March 8, 2012 - 12:00am

Wondering how you can support the important work being accomplished with the low-income housing tax credit, new markets tax credit, historic tax credit or renewable energy tax credit?

Below are some links you can use to contact your legislators and let them know why you support these important programs. Whenever possible, communicate to lawmakers the benefits these tax credits are providing in their states and home districts.

Low-Income Housing Tax Credit

Use the Tiberi-Neal “Dear Colleague Letter” to talk with your Congressional Representative about cosponsoring H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9 percent low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act. Contact your Member of Congress – especially if he/she serves on the House Ways and Means Committee – and ask that he/she support and cosponsor the legislation. Visit the recently updated A.C.T.I.O.N. Advocacy Toolkit to read about H.R. 3661 and view tips on contacting your Members of Congress.

New Markets Tax Credit

Join the group of more than 1,000 businesses and organizations that support the NMTC extension. Several bills have been introduced to extend the new markets tax credit, including  H.R. 3224 to extend the New Markets Tax Credit program through 2016 at a level of $10 billion each year, and H.R. 2655, the New Markets Tax Credit Extension Act of 2011, which would extend the program through 2016, at a level of $5 billion in authority each year. Go to the New Markets Tax Credit Coalition’s web site to view sign-on letters in support of an extension of the NMTC and learn how to add your name to the current sign-on letter.

Historic Tax Credit

Ask your senator to support the CAPP Act to keep historic preservation working. Join the effort to protect the credit by urging Congressional support for the “Creating American Prosperity through Preservation Act.” Senators Ben Cardin and Olympia Snowe introduced S. 2074, the Creating Prosperity through Preservation (CAPP) Act of 2012 to improve and modernize the historic tax credit. The National Trust for Historic Preservation has compiled fact sheets and information to help the preservation community support the historic tax credit.

Renewable Energy Tax Credits

Urge Congress to extend the renewable energy production tax credit. Bipartisan support is growing for measures such H.R. 3307, the American Renewable Energy Production Tax Credit Extension Act, which would extend the production tax credit through 2016. Uncertainty over the future of the production tax credit is becoming hesitance to plan future wind projects. To preserve tens of thousands of jobs, the renewable energy industry, through groups such as the American Wind Energy Association, is urging Congress to take action to extend the PTC immediately.