Last week, U.S. Senator Maria Cantwell (D-WA) sent a letter to Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) urging them to extend the New Markets Tax Credit (NMTC) Program and called for its inclusion in a Congressional jobs strategy. Cantwell is an avid supporter of the NMTC program, which has supported thousands of jobs throughout Washington state, and is a co-sponsor of the New Markets Tax Credit Extension Act of 2011 recently introduced by Senator Jay Rockefeller (D-WV) and Senator Olympia Snowe (R-ME). The legislation would extend the credit for another five years and provide $5 billion in annual allocation authority. The NMTC program is set to expire at the end of 2011.
Click here for the complete text of Cantwell’s letter.