Historic Tax Credits Remain At Risk
The following is a note from the National Trust for Historic Preservation:
"We have heard it is unlikely that the Historic Tax Credit will be included in Ways and Means Chairman Brady’s tax reform bill expected out now on November 1.
Good efforts have been made by our colleagues with Ways and Means members in their states but it looks like the Chairman is holding firm in his plan to release a bill that mirrors the instructions laid out by the “Group of Six” two weeks ago to only include the Low-Income Housing Tax Credit and the R&D tax credit.
We’ve also learned that Chairman Brady aims to get the tax reform bill to the floor for a full House vote on November 6, basically giving House members three days to amend.
Moreover, last week’s passage of a Senate budget created a path for the Senate to pass a tax reform bill with only a simple majority of 51 votes.
Urgent action is needed from the preservation community."