Historic Tax Credit Advocacy During Summer Recess Urgently Needed

The Historic Tax Credit (HTC) is the most significant federal financial commitment to historic preservation. Over the last 36 years, the credit has created 2.3 million jobs, leveraged $117 billion in investment, and rehabilitated more than 41,250  buildings — all while generating enough in federal taxes to pay for itself.  Unfortunately, this credit is in danger.

The Republican tax reform task force in the U.S. House of Representatives released a proposal for tax reform on June 24th (Overview or Full Text). This broad blue print, for tax reform in 2017, would require the elimination of hundreds of billions of dollars in tax credits and deductions in order to achieve a 20% corporate tax rate. Though no community development measures were singled out for retention, we know from Capitol Hill conversations that the HTC program is at risk. Some Members of Congress outside of the “blue print process” have called for totally eliminating the credit, reducing it from 20 percent to 10 percent, or combining it with the low income housing or new markets tax credits.

Requested Action: In-District/State Meetings and Site-Visits During the Summer Recess, July 15th-September 5th

Because of these recent developments in the tax reform debate, advocates for the HTC need to make it a priority to meet with Members of Congress in their district or state during the Summer Congressional Recess, July 15 through September 5th.  Suggestions for Member advocacy include:

  • Request in-district meetings with Members of Congress; ideally combine with site visits to tour completed HTC projects or future HTC projects.
  • Make the case for the value of the HTC and ask their Members of Congress to express support to House Ways and Means Committee Chairman, Rep. Kevin Brady (R-TX) and Senate Finance Committee Chairman, Orrin Hatch, to make sure the Historic Tax Credit is enhanced and not diminished in tax reform legislation.
  • Ask Members of Congress to co-sponsor the Historic Tax Credit Improvement Act, which improves and updates the HTC and features a 30% small deal credit to help rural and small town revitalization.

Site visits are a great way to show the HTC in action, with all of its economic, community and historic preservation benefits.

HTC advocates are encouraged to connect with other leaders in the historic rehabilitation and preservation communities to organize meetings followed by project tours during the summer recess. Support for the Historic Tax Credit is needed from all Members of Congress! Also, if you have a Member of the Congress that sits on the Senate Finance Committee or the House Ways and Means Committee it is especially critical for them to hear about the value of the HTC while they are back home.

Members of Congress are currently developing their late July and August schedules, so submitting a recess meeting/site-visit request in the next few weeks is ideal. The HTC Campaign can provide assistance and materials for meetings/site-visits or assistance in inviting Members of Congress.

Please contact Michael Phillips (mphillips@ntcic.com) if you would like assistance and updated materials (maps, economic data and list of projects, program overviews and relevant letters from advocates to Members of Congress)Please keep us updated of any meetings or tours you are able to arrange so that we may relay this information to our HTC Capitol Hill Team.

Advocates should contact congressional offices and ask “how to best submit a scheduling request for when [the Member of Congress] is home for the Summer Recess,” and then follow the staff’s instructions.

To locate the name and phone number of your House Representative click here.

To locate the names and phone number of your Senators click here.

Or call the Capitol Switchboard at 202-225-3121 and asked to be connected to your Senators’ or House Member’s DC office.

Historic Tax Credit Improvement Act Background

This Historic Tax Credit Improvement Act (HTCIA) provides several reform options and serves as an indicator of member support for the HTC program (see link to one-pager below).  The House version of the bill (H.R. 3846) is enjoying strong bi-partisan support on the Ways and Means Committee and presently has 42 Members of Congress supporting the bill. The Senate version of the bill, sponsored by Senator Susan Collins (R-ME) and Senator Ben Cardin (D-MD),  introduced in March, has 3 Co-sponsors, Sen. Roy Blunt (R-MO), Sen. Charles Schumer (D-NY) and Sen. Patrick Leahy (D-VT).

Co-sponsors and other details of the House and Senate bills can be found at:

House HTCIA Co-Sponsors

Senate HTCIA Co-sponsors

A one-pager on the HTCIA legislation

 

Thank you for asking your Members of Congress to contact the tax writing committees to support the HTC and, to co-sponsor the Historic Tax Credit Improvement Act.

And thank you for your continued support and advocacy for the federal Historic Tax Credit!

Feel free to contact Mike Phillips for any assistance in requesting in-district meetings or site visits (mphillips@ntcic.com or 202-440-0899).