August 30, 2011

Published by Michael Novogradac on Tuesday, August 30, 2011 - 9:15am

Michael J. Novogradac, CPA, discusses a jobs proposal President Obama is expected to unveil in the coming weeks. He also discusses an OMB memo asking federal agencies to provide 5 and 10 percent cuts in their fiscal year 2013 budget requests; highlights and trends of HUD’s proposed FY 2012 fair market rents; the revised MAP Guide; record-setting demand for FHA-insured financing; and TCAC’s cost containment forums. Then, he examines a letter from the Governors Wind Energy Coalition that calls for a seven-year extension for the renewable energy production and investment tax credits and shares remarks in support of the PTC made by Congressman John Dingell. Next, he summarizes a new OCC fact sheet about the historic tax credit and describes the new programs that officials in Michigan describe as replacements for the state’s recently eliminated brownfield and historic tax credit programs. Finally, he discusses Senator Maria Cantwell’s comments in support of extending the new markets tax credit, and previews the NMTC Basics Webinar.