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NMTC Program Outperforms Comparable Cash Grant Program
NMTC Program Outperforms Comparable Cash Grant Program, a report by The New Markets Tax Credit Working Group, counters a Government Accountability Office (GAO) report that a cash grant program to replace the New Markets Tax Credit (NMTC) program may be more efficient in delivering subsidy to qualified businesses in low-income communities. The GAO had suggested that Congress consider converting the NMTC program to a cash grant program, but the Working Group’s analysis reveals that the NMTC is more efficient than a comparable cash grant program and as the price paid per credit rises so does the efficiency of the NMTC.
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