The NMTC Coalition released a new report last week highlighting the economic impact of the NMTC. Between 2003 and 2015, NMTC investments generated more than $156 billion in economic activity, creating over 1 million jobs and $6.7 billion in state and local tax revenues. The report shows that the federal tax revenue generated by NMTC investments more than pays for the cost of the program, as the NMTC generated $872 million in federal tax revenue in 2015, exceeding the $759 million annual cost of the program. The report also highlights that most NMTC financing goes to severely distressed communities that far exceed program requirements for poverty and income, to rural communities and to healthcare facilities. This new report comes as Congress considers eliminating the NMTC in tax reform conference negotiations. Visit the NMTC Coalition website for resources to advocate for this critical community revitalization tool.
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